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題名 台灣晶圓產業的成長之路:中美晶併購GlobiTech
The Growth of Taiwan Wafer Industry: Acquisition of GlobiTech by Sino-American Silicon Products Inc.
作者 于卓民
Yu, Chwo-Ming Joseph
張磊
王金來
顏孟賢
貢獻者 企管系
關鍵詞 以弱併強 ; 企業成長 ; 國際併購 ; 晶圓產業
a least developed country (LDC) firm acquiring a developing country (DC) firm ; firm growth ; cross-border M&A ; wafer industry
日期 2020-12
上傳時間 17-Jun-2021 14:15:03 (UTC+8)
摘要 隨著環境的快速變動及國際競爭日趨激烈,企業逐漸傾向以併購途徑實現企業的快速成長。本個案以一台灣晶圓廠商為例,展示其為尋求企業的持續成長,選擇併購美國一家技術領先的下游磊晶廠商之策略作為。本個案描述中美矽晶製品股份有限公司(以下簡稱「中美晶」)併購GlobiTech 之整體過程,包含併購前的決策與規劃、併購中的談判與盡職調查,以及併購後的整合與管理等重要環節,由此探討中美晶在規劃與執行跨境併購各階段之策略思維與作法。當台灣企業併購美國企業,面對技術與管理能力皆優於自身的標的公司(即「以弱併強」)時,台灣企業往往面臨更為嚴峻的挑戰,因此併購各階段之作法與一般外商公司來台「以強併弱」之併購模式及作法不同。中美晶併購GlobiTech 之成功個案,對於台灣企業採取國際併購做為成長策略具有參考價值。
In rapidly changing environment and increasingly fierce competition, many firms use M&A to achieve fast growth. This case takes a Taiwanese wafer manufacturer as an example to illustrate its growth strategy by acquiring a downstream epitaxial manufacturer in the United States (US). The case depicts the process of Sino-American Silicon Products Inc. (SAS) acquiring GlobiTech, including planning and decision making at pre-merger phase, negotiation and due diligence at implementation phase, and integration management at post-merger phase. This case shows the strategic thinking of SAS’s cross-border M&A choice and the activities at all phases of the M&A process. When a Taiwanese firm initiates a cross-border acquisition, the firm encounters severe challenges, especially facing the US target with superior technology and management capabilities. Thus, this case illustrates the M&A process under the scenario of “a firm from a least developing country (LDC) acquiring a firm in a developed country (DC)” which is in sharp contrast to that of “a firm from a DC acquiring a firm in a LDC”. The successful acquisition experience of SAS has implications for Taiwanese firms intending to grow through cross-border acquisitions.
關聯 產業與管理論壇, Vol.22, No.4, pp.80-91
資料類型 article
DOI https://doi.org/10.3966/199582342020122204004
dc.contributor 企管系
dc.creator (作者) 于卓民
dc.creator (作者) Yu, Chwo-Ming Joseph
dc.creator (作者) 張磊
dc.creator (作者) 王金來
dc.creator (作者) 顏孟賢
dc.date (日期) 2020-12
dc.date.accessioned 17-Jun-2021 14:15:03 (UTC+8)-
dc.date.available 17-Jun-2021 14:15:03 (UTC+8)-
dc.date.issued (上傳時間) 17-Jun-2021 14:15:03 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/135838-
dc.description.abstract (摘要) 隨著環境的快速變動及國際競爭日趨激烈,企業逐漸傾向以併購途徑實現企業的快速成長。本個案以一台灣晶圓廠商為例,展示其為尋求企業的持續成長,選擇併購美國一家技術領先的下游磊晶廠商之策略作為。本個案描述中美矽晶製品股份有限公司(以下簡稱「中美晶」)併購GlobiTech 之整體過程,包含併購前的決策與規劃、併購中的談判與盡職調查,以及併購後的整合與管理等重要環節,由此探討中美晶在規劃與執行跨境併購各階段之策略思維與作法。當台灣企業併購美國企業,面對技術與管理能力皆優於自身的標的公司(即「以弱併強」)時,台灣企業往往面臨更為嚴峻的挑戰,因此併購各階段之作法與一般外商公司來台「以強併弱」之併購模式及作法不同。中美晶併購GlobiTech 之成功個案,對於台灣企業採取國際併購做為成長策略具有參考價值。
dc.description.abstract (摘要) In rapidly changing environment and increasingly fierce competition, many firms use M&A to achieve fast growth. This case takes a Taiwanese wafer manufacturer as an example to illustrate its growth strategy by acquiring a downstream epitaxial manufacturer in the United States (US). The case depicts the process of Sino-American Silicon Products Inc. (SAS) acquiring GlobiTech, including planning and decision making at pre-merger phase, negotiation and due diligence at implementation phase, and integration management at post-merger phase. This case shows the strategic thinking of SAS’s cross-border M&A choice and the activities at all phases of the M&A process. When a Taiwanese firm initiates a cross-border acquisition, the firm encounters severe challenges, especially facing the US target with superior technology and management capabilities. Thus, this case illustrates the M&A process under the scenario of “a firm from a least developing country (LDC) acquiring a firm in a developed country (DC)” which is in sharp contrast to that of “a firm from a DC acquiring a firm in a LDC”. The successful acquisition experience of SAS has implications for Taiwanese firms intending to grow through cross-border acquisitions.
dc.format.extent 489300 bytes-
dc.format.mimetype application/pdf-
dc.relation (關聯) 產業與管理論壇, Vol.22, No.4, pp.80-91
dc.subject (關鍵詞) 以弱併強 ; 企業成長 ; 國際併購 ; 晶圓產業
dc.subject (關鍵詞) a least developed country (LDC) firm acquiring a developing country (DC) firm ; firm growth ; cross-border M&A ; wafer industry
dc.title (題名) 台灣晶圓產業的成長之路:中美晶併購GlobiTech
dc.title (題名) The Growth of Taiwan Wafer Industry: Acquisition of GlobiTech by Sino-American Silicon Products Inc.
dc.type (資料類型) article
dc.identifier.doi (DOI) 10.3966/199582342020122204004
dc.doi.uri (DOI) https://doi.org/10.3966/199582342020122204004