本研究經由個案分析其併購策略、成效及透過併購型態等探討併購之關鍵成功因素。最後發現：經由改善資產使用效率與財務結構等方式可提升併購後的企業整體績效，而併購的關鍵成功因素為有效整合人力資源、迅速建立資訊平台、分享包括研發、製造技術之改良與配銷通路等資源。因此，綜效並非因合併而產生，而是要靠管理而產生的。;The case study method is used in this research to examine the case company’s post-M&A performance and key success factor (KSF) in M&A. The results show that there are ways a company can enhance its overall performance, for example by improving asset utilization efficiency and financial structure in M&A activities. The KSF for M&A include effective integration of human resources, rapid building an information platform, sharing resources such as R&D, improving manufacturing techniques, distribution channels etc. It is shown that synergy in M&A therefore results from management rather than from M&A itself.
