全球科技產業併購決策之探索研究

An Exploratory Study on Global Technology Merger & Acquisition Decisions

林敏慈(Min-Tzu Lin)

指導教授 ： 李吉仁

國立臺灣大學/管理學院/企業管理碩士專班/碩士(2018年)

https://doi.org/10.6342/NTU201801039

摘要

無資料

關鍵字

智慧城市 ； 併購 ； 綜效 ； 競爭態勢 ； 物聯網 ； 第五代行動通訊系統

並列摘要

The explosive global population and the unprecedented growth of urbanization challenge cities’ sustainability and efficiency. Technology is recognized as an essential element to resolve the issues for future inhabitation. While technology is highly leveraged to improve citizens’ daily life, a city is transformed into a smart city. This digital transformation has been disrupting several related industries across the board and changing their competitive dynamics. This thesis is to discuss how the concept and vision of smart city drive major global players to aggressively reconfigure their business portfolios, especially through merging or acquiring target firms in the information and communications technology (ICT) sector. To facilitate research exploration, three cases (Qualcomm-NXP acquisition, Broadcom-Qualcomm proposal, and SoftBank-ARM acquisition) are purposely identified for detailed examination on the strategic motivations of engaging merger and acquisition (M&A) and the consequent influences on competitive landscape. After analyzing public information, this research discovers that the acquiring firms are faced with mature core businesses, so they are attracted by the target firms’ growth potential for the emerging smart city market. In addition to growth, the acquiring firms also seek for value creation. By eliminating boundaries between firms and consolidating resources, the shared vision of smart city can be realized more efficiently. As for the influences on competitive landscape, these M&A measures disturb the original equilibrium of competition, more M&As might be induced until new equilibrium is achieved. Higher market power of the combined companies will cause redistribution of the profit pools and threaten operations of foundries and other IC design firms. To respond to the dramatic changes of competition, foundries have to search for breakthroughs on nanometer fabrication technologies. Other IC design firms should fortify intellectual property portfolios, deliver low-cost and low-power products, or reposition themselves as total solution integrators for the surging smart city industry.

並列關鍵字

Smart City ； Merger & Acquisition ； Synergy ； Competitive Landscape ； Internet of Things ； 5G

參考文獻

台灣半導體產業協會，2018，TSIA第83期簡訊電子書，http://ebook.greenpublishers.com/ebook/tsia/83/, accessed on June 3, 2018.

林苑卿，2015，「博通總裁細述下嫁安華高內幕，摩爾定律失效，半導體業者大者恆大態勢明確」，財訊，7月1日。

Abdullah, M. F. L., Abdullah, J., Yonis, A. Z., & Ghanim, M. F. 2011. Comparison Study on 3.9G and 4G Evolution. 2011 International Conference on Information Communication and Management. IPCSIT vol.16, pp. 181-186.

Agiwal, M., Roy, A. & Saxena, N. 2016. Next Generation 5G Wireless Networks: A Comprehensive Survey. IEEE Communications Surveys & Tutorials, Volume 18, Issue 3, pp. 1617-1655.

Akyildiz, I. F., Su, W., Sankarasubramaniam, Y., & Cayirci, E. 2002. A Survey on Sensor Networks. IEEE Communications Magazine, August, pp. 102-114.