In March 2008, Quattrone founded Qatalyst Group, a high-end corporate advisory firm focused on technology. Almost immediately after the firm issued its founding press release, it was reported to be advising Google on the Yahoo takeover deal pending with Microsoft. The article reporting the collaboration said: "That Mr. Schmidt (CEO of Google Inc.) would call on Mr. Quattrone is no surprise. The two men have worked together for years, and Mr. Schmidt was even quoted in the press release announcing the creation of Qatalyst (Mr Quattrone's new consulting and investment banking venture) 'I look forward to working with him again and am very enthusiastic about Qatalyst's prospects for success.'"