Intel: the inside storyx
Find out how the Firm has developed a strong relationship with this microchip giant.
Intel – it’s one of the best known computing brands in the world and has been instrumental in the development of microchip technology for nearly 50 years. We find out more about the Firm’s relationship with this member of the Key Client Program.
In 1968, two pioneers of the computing world, Gordon Moore and Robert Noyce, joined forces to form what was to become arguably the most well-known microchip manufacturer in the world.
In 2016, this global giant returned revenues of US$59.4 billion, employing a workforce of 106,000.
Intel is currently the second largest producer of semiconductors in the world behind Samsung, supplying computing power to the likes of Apple, Lenovo, HP and Dell.
No wonder then that the Firm ranks Intel among its key clients, having been added to its select Mergers and Acquisitions (M&A) panel of law firms in 2015.
Since then, our relationship has gone from strength to strength, as we’ve established ourselves as a partner of choice, particularly when it comes to M&A matters.
INTEL
DID YOU KNOW?
Intel was founded in 1968 by Gordon Moore and Robert Noyce.
Their original name for the company, Moore Noyce, was dropped because
of concerns it would be pronounced More Noise.
Robert Noyce was a mentor to Apple founder Steve Jobs.
The Intel name comes from a combination of Integrated Circuits and Electronics.
The company manufacturers its chips in a special clean room. The air in the clean room has no
particles above the size of 0.5 microns (a human hair is 100 microns thick).
Intel’s first major success came in 1971 with the launch of the finger-nail thin Intel 4004 micro-processor, which delivered the same computing power as the world’s first computer,
the room-sized ENIAC.
The Intel Core2Duo has 100,000 times the number of transistors of the Intel 4004.
The company will celebrate its 50th anniversary in 2018.
We were added to their panel for M&A in 2015 when Intel’s M&A legal team commended our pitch team from New York headed by Daren Orzechowski.
Shortly afterwards, we hired Partner Bill Choe on the recommendation of Intel Corporate Vice President of Legal and Corporate Secretary Susie Giordano, which strengthened our relationship still further.
Bill says: “I’d worked with Intel extensively at my previous firm, Morrison and Foerster, since 2012 and developed a very tight relationship with Susie and the other members of her M&A team. They saw myself and White & Case as an ideal combination for their M&A work.
“They were particularly keen to call on the global, cross-border expertise offered by the Firm – something that few law firms could offer them.”
“Intel has come to recognize that, no matter which jurisdictions a target merger or acquisition involves, we will be able to provide them with an outstanding team.”
While the vast majority of the work we do for Intel is M&A based, these matters often touch on several practice areas. We also partner with them on advisory and commercial contract work.
Bill says: “Intel has come to recognize that, no matter which jurisdictions a target merger or acquisition involves, we will be able to provide them with an outstanding team.
“For instance, we’ve recently worked with them on a deal in Italy, two in Germany, one involving UK law, one in Poland and one in Russia, and we’ve called on the help of our offices in each country in each case. It’s what being a truly global law firm is all about.”
As with any M&A matters, our work involves several other areas of expertise, in particular the involvement of Technology Transactions and IP (TT) lawyers, anti-trust, anti-corruption, trade regulations, and, as Intel is usually keen to retain the employees of the companies it acquires, employee benefit attorneys.
Bill says: “Although those deals are driven out of Silicon Valley, including TT and employee benefits, we’re often supported by other offices, in particular the TT and employee benefits teams in New York.
“Intel’s strategy is now cloud technology based and focused on growth in industries such as artificial intelligence (including deep or machine learning) and IoT, so the expertise and appreciation of these areas we have rapidly gained by doing a large majority of their deals in this space is a real asset to them.”
“Importantly, we need to understand that a client like Intel requires our best focus and efforts and that we need to have the mindset of providing impeccable, proactive service and excellent work in everything we do, all the time.”
Growth in our revenues with Intel has been quite significant and fast since we joined the panel in 2015 and that is reflected in the expansion of our Silicon Valley’s M&A section team from three to 12 in recent times, including key partner additions Jason Tomita and Carrie LeRoy. So what are our plans to develop the relationship?
Bill says: “Importantly, we need to understand that a client like Intel requires our best focus and efforts and that we need to have the mindset of providing impeccable, proactive service and excellent work in everything we do, all the time.
“On top of that, we are keen to expand into doing different work for them, including more public M&A work (most of our current work for them involves private acquisitions).
“Also, as well as developing our relationship with Intel, we see them as an anchor client that will help us springboard into working with other clients in the industry and in Silicon Valley, so there is a lot of scope for growth.”
