Media: Masayoshi son was too optimistic, useless-buying ARM of SOFTBANK, Softbank, ARM-IT information
On July 20, Beijing evening news, according to Taiwan media reports, Taiwan research firm Digitimes Research said in a report today, SOFTBANK Chairman and CEO Masayoshi Son of SOFTBANK acquisition ARM deal too optimistic, actually buying ARM of SOFTBANK does not help much.
Japan telecoms giant Softbank, announced Monday, will be ￡ 24.3 billion (about US $ 32 billion) cash to buy United Kingdom ARM chip design company. This is the acquisition of United States since Softbank Telecom operator Sprint the largest mergers and acquisitions transactions.
In this regard, Masayoshi Son, said in a statement, the current SOFTBANK was actively investing in "Internet" business, wanted to take advantage of the market's significant business opportunities and acquisitions ARM and the strategy of a perfect match. In other words, the SOFTBANK acquisition ARM primarily motivated by a desire to use the ARM to expand the "Internet" business.
Digitimes Research believes that Masayoshi Son, overestimate the benefits of buying ARM, underestimated the "Internet of things" vertical and horizontal integration of the market more difficult. Son stressed in a statement "the Internet of things" market opportunities in the future, but did not mention the synergy effects of the acquisition ARM. Digitimes Research believe that SOFTBANK acquisition ARM's motivation is to invest in the future "Internet of things" opportunities.
But in fact, SOFTBANK shares on the Tokyo Stock Exchange fell 11.3%, its biggest one-day decline since October 12, 2012. It also highlighted investors ' lack of confidence in the deal.
For a son with ARM extended "Internet of things" motives, Digitimes Research raises two questions:
1, ARM clients are different from SOFTBANK
ARM customers are mainly IC design companies for mobile devices and ARM impact users of mobile devices worldwide. SOFTBANK's business including mobile communications and Internet services.
2, different ARM core business of SOFTBANK
ARM revenues mainly from mobile IP authorization chip architectures, and Softbank Mobile Communications and Internet service providers, the two companies are located at both ends of the supply chain. In the "Internet of things" application development, SOFTBANK on both ends of this lack of experience.
In addition, Toshihiro Uomoto, Chief credit strategist at Nomura, said: "the current ARM with SOFTBANK's core business there is a huge difference between. Market view, $ 32 billion, a bid too high, SOFTBANK's share price has been affected. ”
Rakuten securities Economic Research Institute Chief Strategist Masayuki Kubota also questioned the deal, saying "the Internet of things" is not the most important hardware and software.
台媒：孙正义太乐观，收购ARM对软银无用 - 软银,ARM - IT资讯
北京时间7月20日晚间消息，据台湾媒体报道，台湾地区研究机构Digitimes Research今日发布报告称，软银董事长兼CEO孙正义对软银收购ARM交易过于乐观，其实收购ARM对软银并无太大帮助。
日本电信巨头软银周一宣布，将以243亿英镑(约合320亿美元)现金收购英国芯片设计公司ARM。这是自收购美国电信运营商Sprint以来软银进行的最大一笔并购交易。
对此，孙正义在一份声明中称，当前软银正积极投资于“物联网”业务，希望抓住该市场的重大商机，而收购ARM与该战略完美匹配。换言之，软银收购ARM主要动机是希望借助于ARM拓展“物联网”业务。
但Digitimes Research认为，孙正义高估了收购ARM的益处，低估了“物联网”市场垂直和水平整合的难度。孙正义在声明中强调了“物联网”市场的未来商机，但并未提及收购ARM所带来的协同效应。Digitimes Research认为，软银收购ARM的动机就是投资未来的“物联网”商机。
但事实上，软银股价昨日在东京证券交易所下滑11.3%，为2012年10月12日以来的最大单日跌幅。这也凸显了投资者对这笔交易缺乏信心。
对于孙正义欲借助ARM拓展“物联网”的动机，Digitimes Research提出了两点质疑：
1、ARM客户群与软银不同
ARM客户主要为移动设备IC设计公司，因此ARM的影响力在于全球的移动终端设备用户。而软银的业务主要包括移动通信和互联网服务。
2、ARM主要业务与软银不同
ARM营收主要来自移动芯片架构的IP授权，而软银是移动通信和互联网服务提供商，两家公司分别位于供应链的两端。在“物联网”应用开发方面，软银在这两端均缺乏经验。
此外，野村证券首席信贷策略师Toshihiro Uomoto也表示：“ARM与软银当前的核心业务之间有着巨大差异。市场认为，320亿美元这一出价过高，软银股价由此受到了影响。”
乐天证券经济研究所首席战略师Masayuki Kubota也对该交易提出质疑，称“物联网”行业最重要的并不是硬件，而是软件。