Semiconductor industry has been known for its capital and technology intensive characteristics as well as global competition. Recently many companies in the industry carry out M&A as well as strategic alliance to access the advanced technology and manufacturing capacity for faster time-to-market. This study, exploring formation, implementation and management in semiconductor industry, is based on Crolles2: the strategic alliance of Philips, STMicro, Motorola, and TSMC. Paving the way to win-win scenario, partners of the alliance can use the technology and capacity of TSMC for their product development, while TSMC as the technology enabler can expand the NextSys platform to other customers.