Chapter 1688 Uneconomical Acquisition! ?

If a high-tech company wants to grow and develop, two things are necessary.

The first is to have sufficient R&D talents. Only when there are more talents, can they continuously invent and create valuable patents, or use them by themselves, or authorize them to others, and earn a lot of money for the company.

The second is to have a more sufficient patent pool, whether it is for self-use, exchange of patents with others, or restricting the development of others... Anyway, after entering the 21st century, patent pools are definitely more useful than money in this world, and it is essential.

A company like Fairy Company, which has only been established for more than two years, is constantly recruiting talents, but the patents in the patent library can only be enriched through purchase first.

ADI's wireless communication chip department, Texas Instruments' wireless technology related, Ericsson's wireless communication equipment, Nortel Networks almost the whole pot, the technical patents of major mobile phone companies... etc. Xiao Qi paid a huge amount for this. Work hard, and there is a lot of money.

But Xiao Qi was not satisfied. In fact, in the past few years, Europe and the United States have encountered financial crises everywhere. It is the best opportunity to take advantage of the fire in the past two decades. If you miss these few years, what do you want to buy? For a high-tech company, it is even more difficult to obtain high-tech technology than reaching the sky.

Therefore, after securing Nortel Networks in the first two months, Xiao Qi now turned his attention to another company that has been in the market for a long time-Infineon.

As a semiconductor division of Siemens, Infineon has inherited the innovative spirit of Siemens and has very strong research and development capabilities in the field of semiconductor chips, whether it is mobile phone baseband chips, smart processor CPUs, or vehicle intelligent switching systems. , even on various sophisticated sensors. Infineon can rank in the top ten in the world for any one.

What Xiao Qi values ​​most is not the over 30,000 patent items held by Infineon, but their excellent research and development capabilities and their foresight that is closely connected with future technologies.

Not to mention anything else, just talk about this "person-vehicle exchange system", that is, the vehicle-mounted intelligent system. Infineon will become the world's number one in the future. Automobile intelligence is the direction of future development, and Infineon, which has the best sensors and chips, will occupy a share in this area in the future and make huge profits, enough to make anyone envious.

However, now is not the year of 2013, when the car intelligent system is developing rapidly. Now it is only the era when the simple esp car electronic stability system is gradually popularized. The people-vehicle exchange system is really a bit advanced.

As for its main business - chips, let's be honest. Infineon can't compare to Qualcomm, the leader in the industry, or Samsung, and they can't even compare to MediaTek, which was promoted by Xiao Qi.

Therefore, being implicated by the subprime mortgage crisis, Infineon has had a hard time recently, especially after its "son" Qimonda suffered a huge loss due to the shrinking of the dynamic chip dram business, Infineon's market value has risen from the highest level last year 8 billion euros, plummeting to 5 billion euros in January.

Although by March, Infineon's market value will drop by a few percentage points. To 4.53 billion euros, but during the Spring Festival. Xiao Qi has already entrusted Goldman Sachs to help them acquire Infineon.

Although Goldman Sachs is notorious and will be despised by investors in the future, they are still very responsible and have sufficient strength after accepting the entrustment. Especially when Xiao Qi gave enough commissions.

Goldman Sachs is the most powerful in the United States, but it does not mean that they are only rampant in the United States. In fact, Goldman Sachs has a very large strength in Europe and even Asia.

Take, for example, the Deputy Minister of Finance of Italy. After resigning, he joined Goldman Sachs Europe directly.

In addition, there are two finance ministers from France, five senior executives from the World Bank, and fifteen senior executives from the seven previous European Central Bank... etc., all of which were included by Goldman Sachs. , Speculating and defrauding people wantonly in various countries.

Germany, a traditional power in Europe, is naturally the target of Goldman Sachs' infiltration. After a lot of hard work, Goldman Sachs finally got through the joints, and brought back a good news without any surprises for Xiao Qi.

The Germans were willing to sell the ailing Infineon, but they demanded that Xiao Qi also accept Qimonda.

Of course Xiao Qi quit. Are you kidding me? Qimonda is a well-known cheating master. He owes a huge amount of debt and will go bankrupt next year. What use is it for him?

Even Qimonda is the world's second largest manufacturer of DRAM dynamic chips, and the quality is surprisingly good, but the production cost and operating cost are too high. They bought it, anyway, they will go bankrupt in two years, not to mention the low price, and they can be shipped directly to Huaguo.

Qimonda can't move, so leaving it and Infineon in Germany, isn't it the rhythm of killing people?

If you want to say that Infineon is better, after all, it develops and produces high-value-added high-tech products. Even if it is produced in Germany, it will not lose money under the high cost.

Besides, Xiao Qi also had other plans for this, and in the end he would make the Germans dumb and eat Coptis chinensis.

But Qimonda is not. Dram chips can be manufactured in Huaguo, and the cost is only one-fifth of it. Can I support the company and support people for Germany for nothing?

Not to mention Germany's high taxes on foreign companies are simply jaw-dropping!

For a company like Goldman Sachs, when you spend money, they can indeed allow you to enjoy what is called an imperial service.

Hearing that Xiao Qi disagreed, Goldman Sachs did not complain, and immediately started a difficult negotiation with a group of old-fashioned people in Germany.

Fortresses are always breached from the inside. There are many German experts in Goldman Sachs, and they naturally know how to deal with the Germans. Under the influence of various profit means, the stubborn and old-fashioned Germans once again let go.

That is, they are willing to transfer Qimonda's patents to Xiao Qi, but Xiao Qi has to pay 300 million US dollars for this. If he agrees to this condition, then Infineon will be able to pay 6 billion euros, a total of 8.9 billion US dollars. The whole was sold to Xiao Qi.

In other words, including commissions and other expenses, Xiao Qi would have to spend almost 10 billion US dollars to win Infineon.

The company's top executives have many opinions on this. So far, Xiannv Company has spent a lot of money to purchase patents and companies, but it has involved an acquisition of 10 billion US dollars, which is the first time ever.

Infineon's smart sensor is very good, and it also has its own unique features in mobile phone chips and CPUs, but it is still too expensive when it comes to 10 billion US dollars.

Fairy Company has only invested more than one billion yuan in Huaguo Optoelectronics Institute, and has made great breakthroughs in smart sensors. As long as 1 billion US dollars is spent on them, it is enough for them to catch up with world-class standards.

As for the baseband chip, it is even simpler. A group of Tsinghua doctoral students studying abroad in the 1980s created a company called Spreadtrum Communications, which specializes in making this baseband chip. The CPU is also very powerful. Nasdaq was listed, but it was a matter of two billion US dollars, which was much cheaper than Infineon.

Calculated in this way, if they are all replaced by Huaguo's simple version of the acquisition, Xiao Qi can get what he can get by purchasing Infineon with a maximum of 3 billion US dollars. The cost is only less than one-third, and it is also conducive to control It is absolutely not an exaggeration to describe it as "cheap and good quality".

But because of reincarnation and rebirth, Xiao Qi thought farther than they did.

In 2011, the global sales volume of light cars was 75 million units, in 2012 it was 80 million units, and in 2013 it was 82 million units. With the increase in demand for automobiles in major countries, it is reasonable to maintain an average annual sales of 75 million automobiles in the next 10 years.

Among these vehicles, cars above the compact car level have a reason to be equipped with an intelligent system for human-vehicle exchange.

Infineon, the world's No. 1 vehicle-mounted smart sensor in the future, can have at least US$10 billion in annual sales in this area alone. If it can compete with Porsche, BMW, Mercedes-Benz, Audi, Volkswagen, and even If the car overlords in the world build a good relationship, it will be easy to increase sales by another 5 billion US dollars a year.

That's right.

This is one of the reasons Xiao Qi wants to acquire Infineon.

Do you think Infineon is really that good? Defeated all the companies, the in-vehicle intelligent system is the world's number one, and no one has surpassed it?

Do not be silly!

Isn't it because Infineon is an affiliated company of Siemens, and Siemens and the major German auto giants are not outsiders?

If Infineon was not a German company and was not spun off from Siemens, then it is impossible for the above-mentioned high-end and high-end cars to use Infineon products, at least not so much and so widely. Then, How can Infineon become the company with the first market praise and the first market share?

Even if Xiao Qi bought Infineon, all its employees, procurement, production, etc. are all in Germany. When the German government is happy to collect taxes, there is no reason not to ask several major auto giants to take care of it!

For this segment of the market alone, Xiao Qi should have bought Infineon instead of other companies considering the wealth of money in the future and the possession of new technologies.

The teenager always remembers that what he needs most is not money, but technology, and talents who can develop technology!

When companies in Huaguo have money but can't buy technology and talents, are there still fewer?

How useful is money when it can make no positive contribution at all other than enjoyment? ! (To be continued..)