"In recent years, the global IC market is generous frequent mergers occur in May 2015, Avago $ 37 billion won Broadcom; the same year in June, Intel $ 16.7 billion swallowed programmable logic chip maker Altera; July this year, Japan's Softbank 24 billion £ purchased ARM.
In 2015, there was an unprecedented M & A frenzy in the semiconductor industry. Last year, the global mergers and acquisitions exceeded $ 130 billion. And this year, this boom will not only have to lose, but it has presented the intensive potential. According to statistics, the global semiconductor industry has exceeded 120 billion US dollars in the first three quarters in 2016, and the total year has exceeded 2015 without suspense.
With the maturity of the semiconductor industry, many semiconductor companies have stripped, invest or fill business, technology and product lines in accordance with new strategies.
International M & A transactions in the past year have greatly changed the industry. In 2016, it seems to be the peak of fierce mergers and acquisitions. These mergers and acquisitions are mainly to expand scale and competitiveness in mature markets, as well as more and more attention to integrated products. China is building a strategy for its own semiconductor supply chain, making mergers and acquisitions into a very attractive choice.
In 2016, the semiconductor industry mergers and acquisitions, not only the amount is huge, the number is large, but also has changed the pattern of the global semiconductor industry, and portrayed an unprecedented industry map. Even if you become an old man in the industry for many years, you will think that the M & A case in the past two years is increasingly difficult to ponder, and you will constantly challenge everyone's imagination.
Just at the last moment Xiao Bian finishing this article, there was an M & A news, really dizzying!
In the early morning of the 10th, Japanese electronic component manufacturers TDK is negotiating with the US sensor inventsense on the acquisition. It is reported that the purchase price of TDK is 12 US dollars per share, and the total purchase price is approximately 1.13 billion US dollars. However, the specific transaction has not been determined. The two parties are expected to complete the consultation before the end of the year.
Below, let's count on the 2016 Global Semiconductor Ten M & A case, and see what extent to which this industry is going crazy.
1, TDK is discussing the acquisition of Invensense
In the early morning of December 10, it is reported that Japanese electronic component manufacturers TDK is negotiating with the US sensor manufacturer Invensense.
TDK is currently one of the main suppliers of smartphone components. Once the transaction is talking, TDK will further expand its market in the sensor field. InvenSense has a deep technology accumulation in the sensor field, it is the supplier of Apple and Samsung mobile phone. InvenSense's gyroscope is widely used in the phone, it can help smartphones calculate the user's actions, and will also become the key to the next generation of AR applications.
MEMS inertial sensors provide InvenSense apples, Samsung and other smart phone manufacturers, such as the six-axis inertial measurement unit (IMU), 9-axis sensor combination, and its major competitors Bosch STMicroelectronics.
Since the above negotiations are confidential, TDK and InvenSen have not immediately responded to the above message.
It is reported that the purchase price of TDK is 12 US dollars per share, and the total purchase price is approximately 1.13 billion US dollars. However, the specific transaction has not been determined. The two parties are expected to complete the consultation before the end of the year.
After the news came out, InvenSense stocks have risen by 28% in the afternoon to $ 10.28, the current market value of InvenSense is around $ 1 billion.
According to previous reports, In October this year, InvenSense hired a financial advisor to assess the company's financial status and sale.
If this TDK is successful, then InvenSense will become a member of the integrated wave of the semiconductor industry. This is mainly blamed on the smartphone's chip supplier faces incentive price competition, and hopes to "strike the big tree" to seek scale effects.
Of course, there are other MEMS TDK acquisitions in the field of sensors, such as August this year, TDK acquired French company Tronics MEMS sensor manufacturers, the purchase price for the 48.65 million euros (US $ 51.3 million); last year, TDK acquired the Swiss sensor manufacturer Micronas company, purchase price of 2.14 billion Swiss francs ($ 210 million).
2, ASML to acquire Zeiss 24.9% shares
November 5, the global semiconductor lithography technology leader ASML Holding (ASML) and the German Carl Zeiss (ZEISS) Zeiss's Semiconductor Co., Ltd. (Carl Zeiss SMT) jointly announced by ASML to 1 billion euros in cash acquisition of Carl Zeiss SMT the 24.9% stake, in order to strengthen bilateral cooperation in semiconductor lithography technology, the development of the next generation EUV lithography system.
Carl Zeiss SMT is an ASML's most important long-term strategy partner. For more than 30 years, it has provided the highest hot button and high performance optical system for ASML lithography equipment. In order to allow the chip manufacturing industry to use a new generation of EUV lithography devices, ASML and Carl Zeiss SMT, which are equipped with a new optical system, and decide to further strengthen cooperative relationships.
In addition to the agreement by ASML hold Carl Zeiss SMT minority equity, ASML will also invest about 220 million euros in the next six years to support Carl Zeiss SMT in optical lithography, and about 540 million euros of capital expenditure and other related supplies. Chain investment.
3, Beijing Jun is acquiring Beijing Hushi
On July 28, Beijing Junzheng threw a major asset restructuring plan, intended to acquire Beijing Hao Wei and a new three-board company, and did not announce the details of the plan.
December 1, Beijing Jun announced that the company intends to issue shares and pay cash to buy 100% stake in Beijing Howe, depending on the source 40.43% and 100% equity stake in Si Bike, total share-based payment of up to 10.477 billion, the after completion of the transaction, the company will hold 94.29% stake in Si Bike; simultaneous private placement, the company also plans to raise matching funds target to 5 actual controller Liu Qiang and employee stock ownership plans, which are not more than 2.145 billion yuan.
The total price of more than 12.6 billion yuan is also an amazing figure even if it is put on the motherboard listed company, and the total market value before Beijing Jun is suspended. The total price of this transaction is 172.38%. The total price is so high, it is because the acquisition assets include Beijing Haowei, this trading price is 12 billion yuan, accounting for 95% of the total transaction price.
As of the end of 2015, Haowa's market share is 16%, ranking second, first and third, respectively, Sony and Samsung, and market share is 40% and 15%, respectively. It is worth mentioning that due to the need for huge capital expenditures and high technical barriers, domestic manufacturers participate in the market competition of the global image sensor in medium and low-end products, and the overseas giants are still far away. Through this acquisition, Beijing Jun is expected to use the leading technical advantages in the field of Haowa, rank among the top three of the global image sensor market in the world's image sensor market with leading technology advantages and top R & D design capabilities.
4, Jian Guang Asset & Zhido Capital Joint Acquisition NXP Standard Product Business
June 14, NXP announced by the Beijing Jian Guang Asset Management Co., Ltd. (referred to as: Jianguang assets): An investor consortium agreement, will sell the investment consortium and Wise Road Capital LTD (referred to as intellectual capital Road) NXP standard products business. According to the agreement, the investment consortium will pay about $ 2.75 billion to NXP.
NXP's standard product service is in the industry leader in discrete devices, logic devices, and PowerMos, focusing on providing semiconductor products to automotive, industrial, calculation, consumer goods and wearable equipment markets. After the completion of this transaction, NXP's standard product business unit will become a separate company named Nexperia, headquartered in Netherlands Naimei. In fiscal year 2015, the NXP standard product business's annual operating income is $ 1.2 billion.
5.Microchip acquisition of Atmel
On January 13, Microchip signed an agreement to acquire Atmel. Atmel said Microchip proposed acquisition program better than the company's previous agreement with Dialog Semiconductor.
Dialog proposed ATMEL in cash plus shares worth about $ 4.6 billion last year. However, after the announcement, Dialog stock prices have fallen, so the value of the acquisition program also declines.
In ATMEL announced that Dialog said that Dialog said that no bid will not increase the price after the acquisition price of $ 8.15 cash plus stocks in Microchip. Subsequently, Microchip announced that the equity value of the acquisition of Atmel trading is approximately $ 3.56 billion. The acquisition program includes $ 7 of $ 7 per share, while Dialog's solution is only $ 4.65 per share.
The two global ranked MCU vendors have enabled Microchip's competitiveness in this area.
6, Siemens acquisition Mentor Graphics
On November 14, Siemens announced that the Mentor Graphics of Semiconductor Software Design Co., Ltd. was acquired at a cash price of $ 37.25, according to this price, and the transaction price should be around $ 4 billion.
This price is 21% higher than that of Mentor last Friday. However, if you add about $ 500 million in debt, then the total price of Siemens acquire Mentor will reach around $ 4.5 billion.
This merger will have a combination of Siemens leading digital enterprise software products because Mentor has extensive experience in electronic ICs and system design, and manufacturing solutions. These capabilities are necessary for today's intelligent connection products, such as unmanned cars. This merging transaction will provide customers with mechanical, heat resistant, electronic and embedded software tools that allow Siemens' customers to further accelerate their innovation, drive product diversification and optimize product operations in related fields.
Obviously, Siemens's single acquisition reads the car-related business, retains the departments of the fusion system and the car, and will seek the opportunity to sell DFM related product sectors.
7, Skyworks will acquire Microsemi (agreement)
On November 4th, according to informed people, after SkyWorks proposed 5.3 billion US dollars, the chip manufacturer Microsemi entered the transaction process. Due to the flow of the merger message, Microsemi's share price rose by 20%, and the market value reached around $ 5.3 billion. MicroSemi chip products are mainly used in defense, communications and aerospace sectors, including extreme environments such as space.
If you can smoothly incorporate Microsemi, you will help SkyWorks to expand your business sector, and leave their dependence on your business market.
8, Adi acquisition linear
July 26, ADI announced the acquisition of Linear Technology (Linear Technology). Adi with $ 46 in $ 0.2321: 1 for $ 0.2321: 1, the entire acquisition price is 14.8 billion US dollars.
ADI and Linear revenue in analog vendors carve columns 4 and 8
After the acquisition is completed, the market value of the two companies is close to $ 30 billion, and Adi will only be secondary to Texas, becoming the world's second largest analog IC manufacturer, and the annual turnover is close to $ 5 billion.
In companies in global semiconductors, Linglrt has retained the list of profit margins for many years, such a special company has been acquired, and it has also shown that the global semiconductor industry integration is further accelerated.
9, soft silver acquisition ARM
On July 18, Softbank announced the $ 32 billion acquisition of chip IP design company ARM. ARM is known as the "most dazzling pear" of the British Science and Technology Industry. After designing the chip IP in the British Cambridge, this headquarters is authorized to Apple, Samsung, Qualcomm and other companies, adjust the price, and finally apply In the computing device. While global smartphones are booming, the ARM's revenue has also soared, and the chip with ARM architecture has reached 15 billion pieces last year.
Soft silver said that after the acquisition will continue to retain the existing organizational architecture of the ARM, which will continue to stay in the British Cambridge and retain the ARM existing executive team, brand, and partnership-based business model. Soft and Silver also promise, in the next five years, will increase the number of employees in the UK in the next five years, and increase the number of employees overseas.
Soft Silver CEO Sun Zhengyi said, "This is the most important acquisition in history. Soft Silver Group is capturing every opportunity brought by the Internet of Things. ARM is very in line with Soft Silver, looking forward to ARM to become an important way to advance the Soft Silver Silver. Pillar. "
10. The high-pass acquisition NXP
On October 27, Gao Tong and NXP were jointly announced that both parties have reached the final agreement and passed by the board of directors, Qualcomm will acquire NXP. Qualcomm price will be $ 110 (premium of 11.5 per cent) per share, all of the stock acquisition NXP issued with a total value of about $ 47 billion, or about 319 billion yuan, paid in cash.
In March 2015, NXP acquired another semiconductor giant Freescale in $ 11.8 billion, ranking among the top ten semiconductor manufacturers in the world.
Qualcomm said that after the merger of two companies, the annual income will exceed $ 30 billion, the service market value will reach 138 billion US dollars in 2020, and in the fields of mobile, automobiles, Internet of Things, safety, radio frequency, networks, etc..
Qualcomm acquisition NXP is mainly scheduled to expand to the car chip market because NXP is currently the world's largest automotive chip supplier.
Why is the merger?
The emergence of such a large scale mergers and acquisitions frenzy, what are the reasons some people say is hold together for warmth, through the difficult period to meet the more difficult challenges in the future;? Some say that capital is entirely at play; some say is to promote the political power. For the acquirers, which can get rid of low profit or even a loss of business, before traveling light line; Offeror is able to strengthen their width or thickness of the product line, adding new growth point (networking, automotive electronics, artificial intelligence, etc.), but also improve operational efficiency, reduce competition, in order to enhance profitability and resistance to market risks.
These are all reasons why they have played and purchase, it is difficult to explain with a motivation, and their deep impact elements are more complicated, and are the results of a common role in multiple factors.
We approach the end of 2016, the semiconductor industry do not know which shares the M & A boom will accompany us into 2017 is to continue to heat up? Or rapid cooling? 2017 outcome.
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