David M. Hernand is a partner in Cooley's business department. Mr. Hernand is a founding partner in the Firm's Los Angeles office. He joined the Firm in 2012.
Mr. Hernand advises companies, board of directors, special committees, investment banks, private equity and venture capital firms and high net-worth individuals and families in public and private merger and acquisition transactions (including cross-border and distressed M&A transactions), corporate control contests, strategic partnering arrangements, public and private capital raising transactions and general company representation matters. Mr. Hernand works with companies with a broad array of industries ranging from consumer products to energy, and has extensive experience working with technology and new media companies.
Mr. Hernand is recognized as a leading lawyer in M&A and venture capital by industry publications such as Chambers USA (recognizing Mr. Hernand in 2013 and prior years as a leader in California in Corporate/M&A – Venture Capital, Super Lawyer Magazine (recognizing Mr. Hernand as a "Super Lawyer" in Mergers & Acquisitions each year from 2005-2010, 2012-2013, and Legal 500: United States 2013 Edition (recognizing Mr. Hernand among leaders in Mergers and Acquisitions and Buyouts – M&A: Large Deals and Mergers and Acquisitions and Buyouts – M&A: Venture Capital and Emerging Companies).
Much of Mr. Hernand's practice involves working with companies at the intersection of entertainment/media and technology. His past and current entertainment/media sector clients include Collective Digital Studios, DIRECTV, DreamWorks Animation, FAWN, Film Track, Machinima, One Equity Partners, Paradigm, Playdom, Relativity Media, Roundup Media, Saban Capital, Screambox, Shamrock Capital, SK Telecom, Sony Entertainment, Style Haul, United Talent Agency, Wiredrive, William Morris and WTF Studios.
In the technology sector more broadly, Mr. Hernand has been involved in many of the most significant technology company M&A and investment transactions in Southern California in recent years, including transactions involving Business.com, DemandMedia, HauteLook, Homestore, IGE, Intermix (MySpace), LegalZoom, LowerMyBills, Machinima, Oversee, Passenger, PriceGrabber, Playdom, ProvideCommerce, ReachLocal, Rent.com, SeeBeyond, The Honest Company and The Rubicon Project.
Mr. Hernand's M&A-related experience includes:
- Niagara Bottling's acquisition of Advanced Refreshment (representing Niagara)
- DreamWorks Animation's $150 million acquisition of AwesomenessTV (representing DreamWorks Animation)
- Proposed $4+ billion buyout of public communications company (representing founder leading buyout; not announced)
- Management buy-out of Classes USA, PriceGrabber and LowerMyBills from Experian Interactive (representing management)
- Madison Tyler Holdings' combination with Virtu Financial and investment by Silver Lake Partners (representing MTH management)
- SK Telecom's preferred stock investment in Viki.com (representing SK Telecom)
- Nordstrom's $270 million acquisition of HauteLook (representing Nordstrom)
- ABB's $3.1 billion acquisition of Baldor Electric (representing Baldor)
- Disney's $763 million acquisition of Playdom (representing Playdom)
- Shamrock Capital's acquisition of Screenvision (representing Shamrock)
- Saban Capital's acquisition of Paul Frank Industries (representing Saban Capital)
- EBay's sale of 65% of Skype to a private equity consortium (representing Goldman Sachs)
- Microsoft's unsolicited $44.6 billion offer to acquire Yahoo (representing Goldman Sachs and Lehman Brothers)
- Merger of William Morris and Endeavor (representing William Morris' board of directors)
- Odyssey Investment Partners' acquisitions of EAG, SM&A and Wencor (representing Odyssey)
- URS Corporation's $2.6 billion acquisition of Washington Group (representing URS)
- $3.4 billion merger of Molson and Coors (representing Morgan Stanley)
- Sale of Club Penguin to Disney for $700 million (representing Club Penguin)
Mr. Hernand's capital raising-related experience includes:
- The Honest Company's sale of $52 million of preferred stock to General Catalyst, IVP, Lightspeed and Iconiq (representing The Honest Company)
- FilmTrack's $20 million capital raise led by Insight Ventures (representing FilmTrack) <
- StyleHaul's $12.5 million preferred stock financing led by Bertelsmann and RTL Group (representing Style Haul)
- Machinima's sale of $50+ million of preferred stock and convertible notes to Google Ventures, Redpoint and other investors (representing Machinima)
- Telly's $8.5 million preferred stock financing led by Nasser Al-Sabah (representing Nasser Al-Sabah)
- SimpleTV's $5.7 million preferred stock financing led by Pritzker Group Venture Capital (representing Pritzker Group)
Prior to joining Cooley, Mr. Hernand practiced with Gibson, Dunn & Crutcher from 2007 to 2012 and before that a partner at Latham & Watkins. Mr. Hernand also previously was a managing director of Idealab, a Pasadena, California-based technology company incubator, and was the founding CEO of New.net, an Idealab portfolio company.
Mr. Hernand is a past Co-Chair of the Corporations Committee of the Business Law Section of the California State Bar and currently is a member of the Mergers and Acquisitions Committee of the Business Law Section of the American Bar Association. Mr. Hernand also serves on the board of The Painted Turtle and the Los Angeles Mayor's Council on Innovation and Industry, and is Chair of the Strategy Committee for the Socrates Program of the Aspen Institute.
- Georgetown University Law Center
- University of California, Los Angeles