Is a “big break up” in the cards for big tech in the U.S.? As the dominant tech companies outpace their smaller competition and gain market share with momentum, it is increasingly debated whether these tech giants need to be broken up or taxed. According to Vito Sperduto, our Co-Head of Global M&A, big tech companies do not need to be broken up and should be embraced as innovative and strategic partners. On October 23, Vito appeared on Bloomberg Surveillance with Bloomberg's Tom Keene and Lisa Abramowicz to discuss this perspective and his outlook on the tech sector.
Key Discussion Points
- Are tech giants too powerful, and should they be broken up?
- Does antitrust enforcement protect small businesses, preserve data privacy, and protect competition?
- Will there be potential consolidation among financial firms?
- What clients are thinking about with regard to M&A after the election?
“The larger players, like in any space, are getting the headlines, but there’s such a vibrant community below that in terms of the players that are developing new technologies. What’s interesting is if you look at some of the technologies that have just come to the forefront during this pandemic, and how quickly those valuations have jumped, as an overall sector it’s still an important driver.”
- Vito Sperduto, Co-Head of Global M&A, RBC Capital Markets
Vito Sperduto is a Managing Director and Co-head of Global Mergers and Acquisitions at RBC Capital Markets. He is responsible for the bank’s overall M&A effort across all industry sectors. Vito has almost 30 years of investment banking experience, during which he has advised on over 200 transactions with a combined value exceeding $250 billion, including advising Raytheon Company on its $90 billion merger with United Technologies Corporation and $2 billion acquisition of Websense from Vista Equity Partners; and Houghton International on its $1.5 billion merger with Quaker Chemical. Historically, he has extensive sector experience with origination and execution of transactions in general industrials and diversified services (with a focus on aerospace, defense and government services), communications, media and entertainment, technology, business services, and consumer and retail.
Prior to RBC, Vito was most recently Managing Director and Head of Software M&A coverage for CIBC World Markets in New York, where he worked across the defense, consumer, business services and technology sectors. He has previously worked for SoundView Technology Group, Smith Barney and Kidder, Peabody.
Vito is a member of RBC’s U.S. Regional Operating Committee, RBC’s U.S. Investment Banking Management Committee. He is an active leader of RBC’s community service programs (including, co-captain of the RBC's New York Race for the Kids) and diversity initiatives (including, co-executive sponsor of RBC PRIDE USA). Vito is the Chairman of the Board of Play Rugby USA (using rugby as a tool to mentor over 3,000 NYC children ages 8 to 18). He earned his B.A. from Harvard University in Computer Science / Engineering Sciences.
