本研究係針對2003年至2006年間，台灣通訊產業參與購併案的廠商，選擇Alcatel-Taisel購併Lucent-Taiwan 以及FET購併KGT等二大購併案。藉由四大構面:購併動機、購併前的準備、外部干擾因素及購併後執行等來檢視購併績效；並萃取影響購併成功之關鍵因素，進而提出台灣通訊產業未來購併之建議。
在質性分析部份，我們透過深度訪談，整理出關鍵字及編碼。再利用柏拉圖及魚骨圖等手法求得各個構面之重要項目，並歸納出影響購併成功之關鍵因素。量化分析部份，則針對回收之63份有效問卷，利用敘述統計、因素及信度分析、變異數分析及迴歸分析等，逐一驗證購併假説，並求得購併績效之迴歸方程式。
最後我們將質性與量化分析之結果彙整並得到下列之結論與建議。台灣通訊產業購併之主要動機是藉由資源與活動共享來降低成本，另由購併擴大市場佔有率，取得新技術與產品，使得整體獲利得以成長。在購併案之前置準備過程作業中，首要工作是如何避免被購併公司，重要之人員提前離去。我們建議可經由員工福利、溝通機制之建立及成立併購小組，使重要人員得以留任。在外部干擾相關因素方面，除了須注意相關購併法規的限制外，仍必須注意國家通信委員會(NCC)之政策方向，國家通信安全考量及全球電信市場之景氣趨勢亦須納入考量。至於購併後影響整合過程之重要因素，則首重降低組織重整之磨擦、組織功能須明確。我們建議可以透過公司政策方向宣導、制度整合、工作流程改革及強化專業技術人員訓練，使組織重整及文化價值觀差異所帶來的衝擊得以降低。

This study focuses on two horizontal merger and acquisition (M&A) cases in Taiwan’s communication industry from 2003 to 2006. Its objective is to evaluate the post-acquisition performance of these M&A’s with regard to four areas: motivation, preparation, implementation and external factors. In addition, we use key success factors to examine our acquisition hypotheses. Our suggestions regarding acquisition management can then serve as a useful reference for mergers in Taiwan’s communication industry.
From in-depth interviews with key personnel, key words were extracted using special codings to obtain the key success factors for these M&As. In the qualitative analysis, we use a Pareto chart and fish-bone diagram to categorize and select the key items. Quantitatively we analyze 63 questionnaires using descriptive statistics, factor and reliability analysis. To determine the validity of our acquisition hypotheses , we use analysis of variance (ANOVA) and a multiple regression analysis.
Combining our qualitative and quantitative results, the following four conclusions can be drawn. First, the major motivation for mergers in Taiwan’s communication industry is to aggregate resources and activities, to enlarge market share, and to obtain new technologies and products in order to grow total profits. Second, during the preparation phase the main task is to avoid losing key personnel. We suggest that retention will improve by accurately estimating the value of employee welfare at stake and by creating an appropriate communication mechanism such as a task force team for such estimation. Third, during implementation the focus should be on lowering the impact of re-organization through clear job specifications and by swiftly normalizing the new corporate culture. We suggest that these differences will be minimized by a well-defined company policy, by clear rules of integration, by improvements to work flow, and by an emphasis on training or re-training technical people. Finally, external factors must be closely monitored. These include M&A regulations, National Communications Commission (NCC) policy, concerning the security of national communication, and the economic climate.

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