工業4.0趨勢下工業電腦廠商之併購後管理與綜效分析–個案研究

Abstract

近年來德國提出工業4.0的概念，指出智慧製造將引領導產業走向向之第四次工業革命，人類將以虛實整合系統為根基，進而構建包含智慧製造、數位化工廠、物聯網、服務網路的整合式產業物聯網。在工業4.0的浪潮下，原先在產業佔據龍頭地位的廠商為了要鞏固其市場，運用企業併購於是成為其取得市場競爭優勢的手段之一，例如發展工業4.0的關鍵要素之一的物聯網，即有許多廠商透過併購的方式加速對產業的佈局。 著眼於此，本研究與透過針對工業4.0產業進行分析，並找出在該產業中企業進行併購的策略思維，研究以文獻探討、次級資料法、個案研究、以及深度訪談作為研究方法，以文獻與次級資料針對工業4.0產業進行產業分析、該產業之併購案例整理，再以一個案公司進行深入探討，藉由與個案公司高階主管進行深度訪談，並以企業併購相關理論進行分析與探討，探討該個案公司之併購策略、併購後的投後管理及其綜效，發現該個案公司策略上運用其全球公司之優勢去進行國際企業併購，以補強企業邁入工業4.0產業之核心能力，並綜合併購經驗輔以完善之投後管理來優化資源配置及改進財務架構，達到併購綜效，具有實務與學術意涵。

In recent years, Germany has proposed the concept of Industry 4.0 and pointed out smart manufacturing will lead the industry toward the fourth industrial revolution. The virtual and integrated systems combining with smart manufacturing, digital factories, internet of things, and service networks, will change the way people work and live. In this wave of Industry 4.0, merger and acquisition has become an important means for enterprises to gain competitive advantage in this market. The research consequently conducts an industry analysis of Industry 4.0, and a case study of M&A integration and its post-investment management in the related industry, with research methods including literature review, secondary data collection, case study, and in-depth interviews. The results show that the case company utilizes international M&A and dedication to post-investment management to reinforce its core competence, optimize resource allocation, and improve its financial structure, and consequently the case company has obtained M&A synergy successfully.