|標題:||台灣IC產業購併案例之研究 - 台灣茂矽電子股份有限公司與美國華智公司之購併|
The Case Study of Taiwan IC Industry's Merger & Acquisition - The Merger of Mosel Taiwan & Vitelic USA
Dr. S. F. Wang
|關鍵字:||購併;Merger & Acquisition|
ABSTRACT Merger is a trend happens repetitively regardless of national boundary. This trend is highly apparent in recession. The odds of winning is 50-50 among all merging companies. Usually, the factors of success and failure in individual case are depending on its uniqueness. The consequences must be deeply analyzed in order to understand. Because of the uniqueness of individual case, the factors of success or failure of each case must be closely studied in order to understand the consequences. Due to consecutive down turn of Taiwanese economy in addition to the pressure on WTO participation in this year, more and more merger will occur in the near future, and it will be unavoidable. For instance, the merger of TSMC, TIAcer and WSMC； the merger of Bank of Taiwan, Land Bank and China trust Bank；the merger of UNIPAC and AcerADTI；the merger of TECO and SAMPO□och.etc. This thesis is a case study of the merger of MVI and Vitelic USA, which two IC design companies merged together at the time when the two companies having problem to sustain competition advantages during recession period 10 years ago. This study will illustrate the whole merger process and results by, first, conducting industry analysis as well as the background , operation results, product lines and financial capabilities of the two companies, then applying SWOT analysis to discuss the rational and structure of the merger, and finally, (1)analyzing the results, 10 years after the merger, in terms of human resources, operations, organization, research and development, sales, common stock capital, earnings per share and expansion of business (2) discussing the critical factors to the success of a merger and acquisition deal, which can be used as the reference for the future.