近年來，隨著雲端運算與虛擬化技術的快速發展，半導體產業正面臨硬體成 長動能趨緩與商業模式轉型的挑戰。為因應此趨勢，越來越多硬體導向的半導 體公司開始透過併購軟體公司，拓展其產品價值鏈與提高營收穩定性。本研究 以 Broadcom 於 2022 年宣布併購虛擬化與雲端服務領導廠商 VMware 為研究案 例，探討半導體硬體企業併購軟體公司的主要動機與策略意涵。
透過次級資料分析與個案研究方法，本文歸納出 Broadcom 進行此項併購的 三大動機與策略意涵:一、透過軟體業務提高經常性收入與獲利能力;二、強 化企業客戶黏著度與交叉銷售機會;三、轉型為系統級整合供應商，掌握更大 市場主導權。研究亦指出，硬體公司併購軟體企業雖具成長潛力，惟在組織文 化整合與長期創新能量維持上仍面臨挑戰。

In recent years, the semiconductor industry has faced slowing hardware growth and increasing pressure to transform traditional business models. As cloud computing and virtualization technologies gain prominence, hardware-focused semiconductor companies are turning to software acquisitions to expand their value chains and enhance revenue stability. This study investigates the strategic motivations behind such mergers and acquisitions, using Broadcom’s 2022 announcement to acquire virtualization and cloud leader VMware as a case study.
Through secondary data analysis and case study methodology, this research identifies three key drivers behind Broadcom’s acquisition: (1) increasing recurring revenue and profitability through software; (2) enhancing customer stickiness and cross-selling opportunities; and (3) evolving into a full-stack solution provider with greater market control. While the acquisition strategy presents strong growth potential, the study also highlights challenges in organizational integration and sustaining innovation in the long term.

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英文新聞資訊
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5. Nvidia Quietly Prepares to Abandon $40 Billion Arm Bid,2022/01/25
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中文新聞資訊
1. FINDIT,【M&A 動向觀測】2023 上半年科技巨頭收購些什麼?生成式 AI 軍備競賽的收購先行者有誰?，2023/07/18 https://findit.org.tw/researchPageV2.aspx?pageId=2261
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