台灣伺服器產業併購策略與綜效分析＿以Ａ公司與B公司為例

Abstract

雲端運算 (Cloud Computing) 是目前資訊界喊得很熱的話題，在台灣尤其是被政府當作重大政策在推動。雲端運算服務的類別可分為SaaS、PaaS 及 IaaS，而其中IaaS對於台灣伺服器產業的發展影響非常大，自2010年國外伺服器品牌大廠紛紛併購相關軟、硬體廠商，台灣伺服器廠商應如何因應？伺服器產業關鍵成功因素為何？ 本研究利用波特之五力分析模型分析伺服器產業結構、併購之動機與綜效、併購後之整合管理等理論，與實務上有豐富的併購經驗且成為核心競爭力之公司案例分享，嘗試探討分析Ａ公司併購B公司之情形，其目的有以下三點： 1.了解伺服器產業的競爭環境，進而有系統的歸納出產業競爭中之關鍵成功因素。 2.探討Ａ公司與B公司兩家公司是否具有策略併購優勢，且併購是否有綜效產生？ 3.找出併購要能成功之關鍵因素為何？Ａ公司併購B公司是否因違背併購成功之關鍵因素，而不能顯現兩家公司之併購綜效。 本研究結果發現伺服器產業關鍵成功因素為有三，1)系統穩定及低持有成本、2)品質及技術是伺服器產業制勝關鍵、3)因應雲端運算產業的來臨，結合軟體與硬體才能鞏固產業競爭優勢。另企業併購關鍵成功要素非常多，除併購對象與公司策略目標要配適外，併購後之整合成功才能產生併購綜效，而一般公司管理階層易將併購交易視為一獨立事件，認為併購交易完成，合併案也完成了，但本研究發現併購結束之時點應為合併新個體已有共同目標與語言並能攜手完成時，才能發揮最大的合併綜效。

'Cloud Computing' has been a red-hot topic in IT industry. It is being promoted as an important government policy, especially in Taiwan. There are three types of Cloud Computing services: SaaS, PaaS and IaaS, which IaaS had a significant impact on the development of the server industry in Taiwan. Since 2010, all major brand name vendors have been merging related software and hardware companies. How should the server industries in Taiwan react? What are the key elements for a successful merger in the server industry? This study used Michael Porter's Five Forces Model to analyze the structure of the server industry, causes and synergy for merging, and after merger management in theory. Additionally, case presentation for companies with core competitive ability and enriched merging experience in the field. The study also attempted to analyze and confer the merging case of Mitac International Corp. and TYAN computer Corp. for three reasons below: 1.Understanding the competitive environment of the server industry, and systematically induce the key elements to success in competition. 2.Discussing whether the merger of Mitac and Tyan had a strategically merging advantage, and if this merger had produced its synergy. 3.Finding out the key element to a successful merger; if the merger between Mitac and Tyan was against all successful causes, hence the synergy had not appeared. The results of the study indicated that there are three successful elements in the server industry. 1.A stable system and low carrying cost 2.The keys to success are quality and technique in the server industry 3.In order to cope in the era of cloud computing, the combination of software and hardware is the way to strengthen the leading edge. Additionally, there are many variables to a successful merger. Besides the matching of objectives, the managers must attach importance to post - M＆A integration, then can achieves synergy. The management normally considers a merger as an independent case. For them, as long as the deal is complete, the case is done. But according this study, a merger is not done until the new combined company has their own goal and language and the staff in the new company can work together to achieve their goal to have the maximum synergy.