Been while eh! Been really busy, sorry! Our regular comment provider Anon provided an interesting like to the M and A activity of the Mitac-Synnex group. Apparently they have been on a shopping spree.
Every day dozens of employees of the Mitac-Synnex Group, a Taiwanese conglomerate of more than 40 high-tech companies worldwide with a combined annual turnover in excess of NT$450 billion, fly back and forth between Taiwan and Silicon Valley on the U.S. West Coast. Many of these trans-Pacific commuters are financial officers and IT engineers in charge of hooking up newly acquired companies to the financial and IT systems at the group's Taiwan headquarters.
Within the past two years, the Mitac-Synnex Group has bought up more than 20 companies. Just two months ago group subsidiary Mitac International bought the consumer products division of Silicon Valley-based GPS device maker Magellan Navigation for NT$3.2 billion. With the deal the business group secured a 10-percent share of the U.S. market for handheld GPS devices and car navigation systems. On top of that, Mitac International took over Magellan's R&D teams in Silicon Valley and Russia.
Yue-teh Jang, general partner in renowned Silicon Valley venture capital firm The Vertical Group, likens Silicon Valley to a department store that is going out of business. "It's a good opportunity to go on a shopping spree," Jang declares.
Great article. Thanks for the head up. Link below:
Commonwealth Magazine: Taiwan's Silicon Valley Shopping Spree
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