Morgan Stanley maintained its position as the leading advisor in technology mergers and acquisitions, with more than $27.5 billion dollars in transactions announced or completed over the course of the year. Morgan Stanley's M&A team advised clients in transactions that redefined industries and positioned established market leaders to take advantage of emerging opportunities. Morgan Stanley represented the following clients in significant transactions:

• US Robotics in its $8.9 billion merger with 3Com
• Cascade Communications in its $2.9 billion merger with Ascend Communications
• Compaq Computer in its $2.7 billion acquisition of Tandem Computers
• Amdahl in its $1.5 billion acquisition by Fujitsu
• Hewlett-Packard in its $1.2 billion acquisition of VeriFone
• Livingston in its $650 million acquisition by Lucent