Cisco taps new M&A firm Tidal for $28 billion Splunk deal.

A new mergers and acquisitions advisory company founded last year by former Centerview Partners dealmakers has achieved significant success by helping Cisco Systems (CSCO.O) in its $28 billion acquisition of cybersecurity company Splunk (SPLK.O).

David Handler and David Neequaye, two technology bankers, founded Tidal Partners, with its headquarters in Palo Alto, California. Their company, which, according to its website, only has 12 employees, served as Cisco’s lone financial advisor, while larger investment banking competitors Qatalyst Partners and Morgan Stanley (MS.N.) advised Splunk.

Handler advised on various transactions while at Centerview and worked closely with Cisco for years, including Cisco’s $5 billion acquisition of NDS Group in 2012 and the $3.7 billion acquisition of AppDynamics by Cisco in 2017.

We have known David (Handler) and David (Neequaye), his partner, for a long time. We’ve had that relationship for a long time because they did a wonderful job for us, according to Cisco CEO Chuck Robbins, who spoke in an interview on Thursday.

The success of Tidal comes as more technology bankers choose to find their businesses amid a general slowdown in dealmaking in the industry. This week, according to Reuters, three ex-Qatalyst Partners bankers established AXOM Partners, a new technology-focused investment banking boutique.

In 2008, Handler and Neequaye assisted Centerview in establishing its technology advisory committee. The organization continued to advise other significant technological firms like Cisco, Qualcomm Inc. (QCOM.O), and Twilio (TWLO.N).

Since its debut last year, Tidal Partners has advised several deals, including Bloom Energy’s (BE.N) $550 million convertible note issuance and ServiceNow Inc.’s (NOW.N) acquisition of G2K Group.

After leaving UBS Group (UBSG.S), Handler filed a lawsuit against Centerview due to a compensation disagreement.