Goldman Sachs 2013 Annual Report Download - page 15

13Goldman Sachs 2013 Annual Report
What is the next generation of technology
innovations that our clients should be
thinking about? This is a question we are
always considering. A Global Investment
Research report, The Search for Creative
Destruction, highlights some of the exciting
technologies that are reinventing, once again,
the notion of what’s possible:
3-D PRINTING Compared to traditional manufacturing,
3-D printing will drive greater customization, reduce costs
for complex designs and lower overhead on short-run
parts. Already growing at over 20 percent annually, the
adoption of 3-D manufacturing is expected to continue
on its path of rapid acceleration.
BIG DATA SOLUTIONS Companies and organizations
everywhere are seeking to garner insights from the
mountains of data collected by PCs, sensors, smart-
phones, tablets and other devices, enabling them to better
synthesize the world’s information. Poised to attract even
greater demand, such technologies help companies to
get a better sense of customers’ needs and identify
important market developments and product trends.
SOFTWARE-DEFINED NETWORKING (SDN) While
the rest of tech has moved to the cloud, networking
largely remains trapped in a paradigm of hardware
and software boxes that are manually configured and
nonscalable. SDN liberates networking from expensive
hardware, making it easier and cheaper for technology
administrators to respond to changing business needs.
The field is likely to create new platform leaders and
high-margin software companies.
2013: AN ACTIVE
YEAR FOR THE FIRM’S
TECHNOLOGY, MEDIA
AND TELECOM TEAM
Working closely with leading
and emerging technology
companies to help them achieve
their business goals, Goldman
Sachs’ Technology, Media and
Telecommunications Group
helped plan and execute a wide
range of transactions in 2013,
including, for U.S.-listed marketed
transactions, 15 technology IPOs
and 12 follow-on equity offerings
as the lead manager. Over the
span of a little more than a week
in September, the team advised
on or executed seven major
deals, including the largest
M&A transaction in a decade.
Notable transactions, in addition to
others mentioned in this report, include:
Apple’s $17 billion debt offering —
this inaugural issuance played a key role
in the company’s $100 billion capital return
program and was the largest-ever
corporate debt offering at the time
Vodafone’s sale of the U.S. group
which owns its 45 percent interest in
Verizon Wireless to Verizon Communications
Inc. for a total consideration of $130 billion,
as well as Vodafone’s $11.5 billion
acquisition of Kabel Deutschland
Softbank’s $21.6 billion acquisition
of a majority stake in Sprint
Dell’s $24.4 billion take-private
transaction
News Corporation’s separation into
two publicly traded companies, 21st
Century Fox and News Corporation
Tesla Motors’ $1.0 billion dual-tranche
offering ($360 million common stock and
$660 million convertible senior notes)
LinkedIn’s $1.4 billion follow-on
equity offering
A Busy Franchise
GLOBAL INVESTMENT RESEARCH
7
Read the report
The Search for Creative
Destruction. Go to:
goldmansachs.com/
annual-report-2013/search
(below) 3-D Printer
THE NEXT WAVE
OF DISRUPTIVE
TECHNOLOGIES
WILL BRING FORTH
EVEN GREATER
TRANSFORMATION