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1. Nearly 60% malicious purchase and failed to end Qualcomm and Bo Tong showdown in the corporate shareholder;
Broadcom has raised its $130 billion high pass (Qualcomm) acquisition to a full-blown, malicious takeover case, and has been officially denied a $70-per-share offer by Qualcomm since nearly 3 weeks ago. Although Qualcomm investors released the wind ball to improve the bid, but after Thanksgiving, the final decision is not to improve the purchase price, but to replace Qualcomm's existing board members, the nomination of their own men to take the lead, to promote the merger case, Bo Tong This is undoubtedly the firing of a proxy battle. However, to win a hostile takeover war, a number of factors are needed to tie in with each other, changing the composition of the board members of the acquisition and target companies, although the necessary conditions are not the only ones. Second, it is also necessary to meet the shareholder's consideration of the purchase price and to try to pass a similar test, including the anti-monopoly law, by regulators. According to Dealogic, as many as 57% of the world's malicious mergers and acquisitions have failed since 2010, which means that even if it has 11 directors, it may not be successful in seeking a vote at the shareholders ' meeting. Qualcomm's board of Directors is re-elected once a year, and the company is scheduled to hold its annual shareholder meeting on March 6, 2018. In fact, the move to nominate its own director is a fact that many analysts have raised the possibility at the beginning of the together. Although the move to nominate directors is a precursor to a future shareholder vote on a takeover, it is no doubt that the decision to buy together is placed in the hands of Qualcomm's shareholders. One of the reasons for Qualcomm's official rejection of the Bo-Tong takeover is that the takeover bid is too low, excessive underestimation of Qualcomm's value, given that Qualcomm is both the wireless domain and the mobile domain's largest patent holder, Qualcomm every move not only affect the electronics industry market in each corner, the company more Hoder into the 5G era, Qualcomm rebuffed reasons, In fact, it is tenable. However, Bo did not propose any long-term innovation and development for Qualcomm. If Bo Tong takes over Qualcomm seriously, for the rest of the shareholders, Qualcomm's long-term growth is likely to be limited, this is the Qualcomm management team has been emphasizing the focus, but also the Bo Tong has not clarified the blind spot. As far as Qualcomm's shareholder composition is known, up to 78% of Qualcomm's shares are owned by legal persons, including a small share of Bo's shares, and large asset management companies including BlackRock, Vanguard, State Street and Fidelity, Bank of America, Wells Fargo, etc., is one of Qualcomm's major shareholders, in view of the Qualcomm's high pass acquisition case, it is impossible to buy the vast majority of the stock market, so for other shareholders, Qualcomm whether it is independent or acquired, the future growth potential of its business, in fact, the focus of the majority of legal interests. In contrast, the challenge for Qualcomm to contend with the money offensive of Bo Tong is how to convince shareholders that their current business model and corporate strategy are actually more valuable for long-term ownership. In the past 6 years, the share price of Bo Tong has grown by more than 700%, but at the same time, Qualcomm's share price rose only 21%, for many Wall Street investment legal persons, the past few years, Qualcomm is no longer the Golden Rooster in their former eyes; If a Qualcomm shareholder chooses to make a bona-tong takeover case, not only is there an opportunity for the end of the game, there is even an opportunity to increase the increase in the shares of Bo Tong, with nearly 80% of the Qualcomm shareholders are corporate shareholders, these large shareholders not only grasp the influence of the board election, but also grasp the decisive factor in the acquisition Qualcomm's case. From now until early next March, Qualcomm held its annual shareholder meeting, there are 3 months to go, and a lot of things can happen in the meantime, the NXP. The acquisition of the semiconductor (M-h) would have been a plus for the Qualcomm management team if it was vetted by the EU and mainland regulators, and if it could reach an out-of-court settlement with Apple. , making Qualcomm's share price rise, making caught. However, from Apple's standpoint, at this point in time, if you choose to reconcile with Qualcomm, it is good for Qualcomm, but not for Apple. In view of Qualcomm's acquisition under the pressure, there is a risk of concessions in the royalty rate more, there is no reason for Apple to extend the olive branch at this time, that is, Qualcomm and Bo Tong Purchase and the case is more tied, making Apple more incentive to continue with Qualcomm in the court. Digitimes
2. High-pass and trouble investors said that the shares-PU semiconductor $135 per million;
Elliott Management, a militant investor, said today that high-tech underestimated the value of the company, NXP Semiconductors, in Beijing December 11 evening.
Qualcomm announced last October that it would acquire a $38 billion $110 per share in the acquisition of the company's Semiconductor Corp. Elliott Management today said that the current value of the en-zhi PU semiconductor $135 per share.
Elliott Management holds a stake of about 6% in the half. As early as August this year, Elliott management had said that Qualcomm's offer underestimated the value of the en-chi half.
At the time, Qualcomm announced the acquisition of a $110-a-share in the grace of the semiconductor, the price of the grace of the semiconductor is less than $100, the price of $110 per share is equivalent to a premium of 11.5%.
At the time when the company's development prospects were not very clear, the 11.5% premium was acceptable to Unji Semiconductor shareholders.
But in the process of waiting for approval, the shares of the Grace Semiconductor have risen to nearly 110 dollars (at the end of May this year). If the deal is completed by the end of this year, the shares of the Grace Semiconductor may exceed the $110 given by Qualcomm.
To this end, the Elliott Management as a representative of investors believe that Qualcomm seriously underestimated the value of the semiconductor, and hope to renegotiate the terms of the deal.
In response, Qualcomm CEO Steve Mollenkov (Steve Mollenkopf) last week said the two sides could be ' haggling ' after the takeover of the acquisition of the Grace Semiconductor was approved by regulators.
Mollenkov said: ' What we are concerned about is how to get the deal approved by regulatory bodies, which is expected to be this year or early next year. After that, the two sides may haggle over how to complete the deal. Although our offer is high enough, I am sure the two sides will bargain. '
At the same time as the acquisition of the semiconductor is blocked, Qualcomm also faces the Bo Tong Company's proxy battle. In Monday, it announced that 11 candidates had been nominated to replace all members of Qualcomm's board of directors. The move means that it has already taken the first step towards a hostile takeover of Qualcomm.
On November 6 this year, it offered to buy Qualcomm $70 a share in cash and equity, with a total value of about $130 billion. On November 13, Qualcomm's board rejected the offer. "The company's board agreed that the price of the Paul Yas understates the value of Qualcomm," said Paul Jacobs, executive director of Qualcomm. ' (Li Ming)
3. Qualcomm refused to increase the purchase NXP price per share of $110 reasonable;
Sina Science and technology news Beijing time December 11 evening, according to the activist investor Elliott Management today claimed that ' the value of the 135 U.S. dollars per share ', Qualcomm then responded that the $110 per share price is high enough.
Qualcomm announced last October that it would acquire a $38 billion $110 per share in the acquisition of the company's Semiconductor Corp. Elliott Management said earlier today that the value of the well-pumped semiconductor is currently worth $135 per share.
In response, Qualcomm later said in an e-mail statement: ' We are fully committed to completing the acquisition of the Grace Semiconductor deal. We believe that the price of $110 per share negotiated by both sides has fully demonstrated the value of the Pu-chi semiconductor and is reasonable. '
Qualcomm also said: ' Elliott management claims that the value of the en-zhi-pu Semiconductor is unreasonable, they do so only out of self-interest. '
When Qualcomm announced the deal, the $110 price per share amounted to a premium of 11.5%. Today, however, the shares of the grace Pu Semiconductor have reached $115.95 a share. (Li Ming)
4. Aimais Semiconductor: 3D Sensing market will surge, fully support the Chinese partners;
I believe many people have started to use Apple's revolutionary new ' IPhone X ' this year, with facial recognition features face IDs being one of the hot technologies discussed by the fruit powder. The hardware behind the technology is a business from Austria, named Aimais Semiconductor (AMS AG). Recently, the company's senior management team visited China, not only brought new products, but also detailed the company's current business operations.
In the field of sensors, Aimais Semiconductors are an established enterprise. Over the past 35 years, it has been working on analog sensors, with more than 8,000 customers worldwide, with 9,500 employees, more than 1000 engineers, and 21 design centers in Europe, Asia and the United States, and more than 16 sales offices around the world.
From the current business point of view, half of the company's revenue comes from consumer electronics, while the other half comes from automobiles, industry and healthcare. Alexander Everke, chief executive of Aimais Semiconductor, said the proportion of consumer electronics will increase in the future. Products, Aimais Semiconductor coverage is also quite extensive, involving optical, environmental, imaging, audio and other four categories of sensors.
New three-stimulus color sensor
This time, the Aimais semiconductor executive team in China, the main release of the product belongs to the optical field-a three-stimulus sensor as7264n. It is reported that as7264n can provide color measurement, can accurately match the human eye response to the visible spectrum, but also can accurately measure the blue wavelength.
Why Detect blue light? Aimais Semiconductor sensor-driven lighting and spectral sensing engine senior marketing manager Tom Griffiths said the study found that the blue wavelength is related to the key factors affecting health, such as irregular life, accelerated eye aging and eyestrain. Blue light, for example, has a very large effect on the secretion of melatonin, during the day may be due to a lot of blue in the sun, so melatonin is very low pressure, people are not easy to sleep, after the evening, the blue light will be weak, weak after melatonin will be higher up, so that people easy to enter the sleep.
According to the introduction, Aimais Semiconductor's AS72XX product platform provides a complete range of light and color sensor products for spectrum and illumination applications, covering from near ultraviolet to near-infrared light. The three-color sensor in the product line uses a unique wafer-silicon interference filter to create an independent spectral channel that matches the specifications of the CIE 1931 standard chromaticity viewer xyz model. The as7264n has two additional Blu-ray filters capable of accurately measuring the blue light intensity between 440nm and 490nm.
AS7264N also provides easy-to-use digital color measurement output through the $literal interface, enabling new light control functions in lighting, display and intelligent building automation or management systems. Tom Griffiths says the as7264n solution will help manufacturers quickly launch applications in the marketplace that are associated with lighting and human health. '
Aimais High speed expansion, 3D sensing market will increase
In addition to the product, Aimais Semiconductor CEO Alexander Everke also introduced the company's current business situation.
In the third quarter of the past 2017 years, the company's financial position has increased rapidly. The data showed a 79% per cent increase in total revenue in the Q3 quarter of 2017 compared with the same period last year. The company's existing model is internal capacity + manufacturing partners. In the stronghold of Austria has its own internal wafer manufacturing, to achieve 200mm production capacity, 180-190k wafer p.a.. In Singapore's own optical package, further capacity expansion and new Vcsel manufacturing investment. In Austria and the Philippines and in-plant testing. In addition, the company also with TSMC, UMC, Global Foundries has a large-scale technical cooperation.
In addition, in the last two years Aimais has also been growing through acquisitions. Previously acquired Taos, Smartfactory™ Sensor, NXP CMOS sensor business, Cmosis, Mazet and Cambridge CMOS Sensors. The biggest acquisition this year is the Heptagon merger, a high-end optical packaging leader, which also allows AMs to step into the global light sensing field.
Third-quarter revenue soared, and the number of employees began to increase. According to Alexander Everke, Heptagon has 3 factories here in Singapore, adding 6000 people in 5 months or so, and these are not increased by acquisitions, they are natural growth. Last year we had only about 2000 people, and by the end of this year, we could have nearly 10,000 people, which is growing very fast.
Some industry analysts believe that the Aimais performance and the rapid expansion of personnel behind its 3D sensor module products into the iphone X supply chain. The three-quarter revenue spike corresponds to a time when the iphone X began mass production. According to Morgan Stanley, Apple's revenue account for AMS is likely to pull up to $number in 2019, far more than the recent 40%.
For the 3D sensor business, Alexander Everke also shows great expectations. He said that the use of human face recognition to unlock the phone, better than our fingerprint recognition, more advanced. The 3D sensing application on the mobile phone is just beginning, and there will be more applications in the future. I believe you and I think, here will be a very broad application scenario. He also expects the consumer-grade 3D market to grow to $6 billion by 2022. The application range includes 3D modeling, AR/VR, 3D scanning, games and other fields.
Alexander Everke also describes the company's ability to provide complete optical sensing solutions and unique advantages in providing sensing and 3D best solutions. Companies in highly advanced packaging expertise, to achieve the best performance, and combined with the optical sensor of custom VCSEL lighting, can achieve a unique end to end platform.
Fully support Chinese partners
In 3D Sensing, Aimais also began cooperation with Chinese manufacturers, last month, AMS announced that with Shun Yu Optical Technology (group) Co., Ltd. 's Ningbo photoelectric Information Co., Ltd. to achieve cooperation. AMS Semiconductor will work with this leading integrated optical equipment manufacturer and optical imaging system solution provider to develop and sell 3D sensing imaging solutions for mobile devices and automotive applications for OEMs in China and elsewhere in the world.
It is reported that Aimais Semiconductor and Ningbo photoelectric Information Co., Ltd. will combine a wide range of optical technology and components, together for 3D sensing applications to develop imaging solutions, and provide relevant software and algorithms. The partnership will focus on the opportunities of the world's original equipment manufacturers in mobile devices and smartphones, promote the development of innovative 3D consumer applications, and expand and capture the emerging opportunities for 3D sensing imaging systems in the automotive sector.
In a collection of micro-network interviews, Alexander Everke said that many companies in China have some initiatives on 3D sensors. We are also in a very good position of development, can well support all domestic partners.
Analysts believe that next year, China's smartphone manufacturers will follow Apple, large-scale use of 3D sensing technology. The bursting of the Chinese market has also provided an excellent opportunity for Aimais to grow.
For the Chinese market, Alexander Everke said that the Chinese market has the highest contribution rate in our company, one of the reasons is that many European and American countries in the production and procurement are from this side. I think the future of Asia and China will also be the highest rate of contribution in our company region. He also disclosed that the company currently employs many sales engineers, application engineers and software personnel in the Chinese domain. In addition, in Beijing has just acquired a wireless Bluetooth design team.
For the future, Alexander Everke said, AI will also become a very large company driving force, because data collection must be sensors, the future will be more and more, especially the sensor will come from 2D to 3D World, the company will also grow at a high speed.
5.AMD CEO: ' been ' Operation ERA comes
' The next phase of operational performance, especially for consumers, is actually around the ' been operation ' (immersive computing), and the countless networking devices around us all living. '
At the 2017 Eee International Electronics Conference (IEDM) in San Francisco, Suzy, AMD CEO, called on Industry to work together to meet demand for higher computing performance to continuously improve end-user experience and help solve some of the world's most difficult problems.
In his keynote address to Iedm, Suzy said, maintaining the pace of innovation has greatly improved the performance of computing technology, which requires not only the evolution of semiconductor process technology, but also better integration of the system 0 components, as well as the improvement of micro-architecture efficiency, power management, memory integration and software.
She added: ' The next phase of operational performance, especially for consumers, is actually around the ' been operation ' (immersive computing), and the countless networking devices around us all. '
AMD CEO Suzy at the IEEE IEDM Conference held in San Francisco, USA (Source: EE times)
Suzy Fung believes that through cooperation will be able to promote industry to overcome the challenges of ── including increasing memory bandwidth delay, cost, power and wafer size; She advocates the use of a multiple-chip architecture, as well as high performance, scalable links of high efficiency wafer wafer interconnect technology.
Despite the controversy, many in the industry have identified technological innovations that lag behind Moore's Law, the theory that every square inch of the transistor's density will grow every 18 months; Suzy Fung points out that today it takes about 2.4 years to reach the target of one-fold per square inch of transistor density, and the size of the wafer becomes an economic problem as time increases, and the bandwidth efficiency of the memory decreases, and the SOC power consumption increases by about 7% a year.
In the field of High-performance computing, the semiconductor industry continuously provides consistent CPU and GPU performance exponential growth; Suzy Fung said that the/performance (Performance-per-watt) efficiency of about every 2.4 years increased by one fold. She estimates that about 40% of the growth in this performance comes from the evolution of semiconductor process technology: ' continuous efforts in architecture and systems are important to us and, frankly, we have a lot of room for progress in these areas. '
/Performance Improvement Trends (Source: AMD)
In addition to the multi-wafer architecture, Suzy Fung also specifically mentions 3D stacking, memory integration and power management technology has matured, can further improve operational performance and efficiency.
At the outset of the keynote speech, Suzy said she had been honored to have received the best Student Paper award at the age of 22 in 1992 and to deliver a keynote address in the same podium 25 years later. In an interview with EE Times, she revealed that she had been away from pure research and development for some time after taking over amd three years ago, and that she was delighted to share her research and development experience with IEDM (IBM, Freescale and AMD).
' Iedm is really a very important technical conference for semiconductor components, ' says Sue, noting: ' For PhD students and many key industries, the meeting has attracted a lot of elite, actually exploring the latest and most important technology trends. '
Compiling: Judith Cheng
(Refer to Original: AMD ' s CEO hails Era of ' immersive Computing ', by Dylan McGrath) Eettaiwan