Latin America Brochure
Pillsbury Advises Violin Memory on $180 Million IPO
2011 Annual Liquidity Summit Conference
Jorge A. del Calvo
Mr. del Calvo represents public and private technology companies in mergers and acquisitions, public offerings, private placements and joint ventures, investment banks in equity, debt and other transactions, and venture and private equity funds in their formation and investments. Mr. del Calvo's clients range in size from unfunded start-ups to Fortune 500 companies.
From July 1, 2000 to the present, Mr. del Calvo led the nation in representing issuers in completed technology IPOs. He is particularly experienced with the business and legal issues implicated by rapid growth. Fifteen of the companies Mr. del Calvo has represented achieved market valuations in excess of $1B. Ten of these fifteen companies were represented by Mr. del Calvo since their incorporation. Included among the issuer-side IPOs handled by Mr. del Calvo are the first internet IPO (Netcom) and the first solar IPO (Sunpower). He has also worked with virtually all major investment banks as their counsel. In 2010 alone, Mr. del Calvo worked on eight underwritten public offerings including transactions in which he represented Goldman Sachs, J.P. Morgan, Deutsche Banc, Barclays, Jefferies and Stifel Nicolaus as joint bookrunners.
During his career, Mr. del Calvo has handled over one hundred merger and acquisition transactions, including the representation of Atheros in its $3.6 billion acquisition by Qualcomm, WebEx in its $3.2 billion acquisition by Cisco, and Nicira in its $1.26 billion acquisition by VMWare. He also has extensive experience in counseling public companies and their boards with respect to hostile takeovers, proxy contests, special investigations and corporate governance issues. Mr. del Calvo joined Pillsbury in 1982 and was made a partner in 1990. He served as leader or co-leader of the firm's National and Silicon Valley Corporate Securities and Technology group from 1994 to 2005, as a member of the firm's board from 2006 to 2011, and as Chairman of its Finance Committee from 2006 to 2010.
Among the public companies Mr. del Calvo has represented are:
AboveNet Communications Inc.
Network Solutions, Inc.*
* Represented on IPO
**First Internet IPO
***First Solar IPO
During his career, Mr. del Calvo has represented U.S. and foreign issuers in hundreds of public and private offerings of equity, debt and convertible securities. His representation of public companies emphasizes corporate governance, including the Sarbanes-Oxley Act, Dodd-Frank Act, JOBS Act, and new stock exchange governance initiatives, as well as the law regarding public disclosures through periodic reports to the SEC, proxy statements, press releases and the like. He has represented private companies in connection with various equity and debt financings, shareholders' agreements and other arrangements among shareholders of closely held entities. He regularly consults with public and privately-held companies and their boards concerning issues involving the fiduciary duties of directors, corporate control issues and similar matters.
Mr. del Calvo also has extensive experience as counsel in mergers and acquisitions transactions, representing both sellers and acquirers, public and private. Included among the transactions he has been involved with are:
- $3.6 billion acquisition of Atheros by Qualcomm, Inc.
- $3.2 billion acquisition of WebEx Communications by Cisco Systems, Inc.
- $1.3 billion acquisition of Mission West by TPG Capital Inc.
- $1.26 billion acquisition of Nicira by VMWare.
- $850 million acquisition of NexGen, Inc. by Advanced Micro Devices, Inc.
- $600 million acquisition of Intel communications processor product line by Marvell, Inc.
- $580 million acquisition of Litepoint by Teradyne
- $505 million acquisition of IBM’s $1.2+ billion CRM BPO business by SYNNEX Corporation (pending)
- $425 million acquisition of Mobile 365, Inc. by Sybase, Inc.
- $418 million acquisition of Techwell by Intersil
- $357 million acquisition of PortalPlayer, Inc. by NVIDIA Corporation
- $326 million acquisition of Tensilica by Cadence Design Systems
- $300 million acquisition of RemarQ Communities, Inc. by Critical Path, Inc.
- $290 million acquisition of eTelecare Global Solutions, Inc. by Providence Equity Partners, Inc. and Ayala Corp*
- $283 million acquisition of Centrality Communications Inc. by SiRF Technology Holdings Inc.
- $255 million acquisition of NETCOM On-Line Communication Service, Inc. by IGC Communications, Inc.
- $250 million acquisition of PeopleSupport by AEGIS BPO Services Ltd.
- $250 million (including potential earn-out) acquisition of RMI by Netlogic
Italicized companies are the clients in the transactions.
*Structured as a go-private transaction in accordance with applicable U.S. SEC regulations.
Mr. del Calvo has also represented a number of investment bankers in equity, debt and other transactions, including work with such clients as Barclays, Deutsche Banc, Goldman Sachs, Jefferies, JP Morgan, Needham, Oppenheimer, Stifel and UBS. He has also represented a number of venture funds (including Redwood Ventures IV and Raza Venture Fund A and B) and incubators (including New Path, LLC and Raza Foundries) in connection with their formation and has represented a number of venture capital funds, private equity funds and investors in private placements of equity and debt.
Mr. del Calvo is a Coordinating Editor of the Venture Capital and Public Offering Negotiation, a two-volume treatise for lawyers. He has also been a Visiting Lecturer at Stanford Law School where he has taught several corporate law courses and was a panelist on several Continuing Education for the Bar (CEB) courses.
Mr. del Calvo is a charter member of the Silicon Valley chapter of the Indus Entrepreneurs (TiE), Asian American Multicultural Association (AAMA), and HispanicNet. He has been a speaker at various conferences sponsored by TiE, AAMA, HispanicNet, and other industry organizations.
Mr. del Calvo is currently serving on the board of Job Train, Inc. and the Vinters Alliance LLP has previously served on the boards of Berkeley Process Control, Columb, Inc., Riverstone Networks (RSTN), Procket Networks, Deepa Textiles, Xambala and New Path, LLC.
- Chambers USA, Investment Funds: Venture Capital—National, Capital Markets: Debt & Equity—California, Corporate: M&A—Northern California, Corporate: Venture Capital—California (2005-2013)
- Best Lawyers in America, Corporate Law, Leveraged Buyouts and Private Equity Law, Mergers & Acquisitions Law, Securities / Capital Markets Law, Venture Capital Law (2006-2014)
- Legal 500 US, M&A: Middle Market (sub-$500 million), Venture Capital and Emerging Companies (2009-2013)
- PLC Which Lawyer?, Corporate/M&A—San Francisco & Silicon Valley (2007-2012), Venture Capital—San Francisco & Silicon Valley (2011-2012)
- Super Lawyers (2005-2012)