IBM's acquisition of Sun is a bit unreliable

If a transaction really happens, it is not a good thing for both parties.

Peng mingsheng, who likes suits     Mcliney who likes casual clothes

From the perspective of capital operation, first of all, IBM has been striving to increase its profit margin in recent years. At present, its profit has exceeded that of its rival, Hewlett-Packard. However, the acquisition of sun would impair IBM's performance. The news is clearly not a good thing for Wall Street investors, who are in the midst of a storm.

Second, Sun closed at $4.97 in regular trading on the Nasdaq market on Tuesday. According to this share price, the company's current market value is about $3.7 billion, which is undoubtedly too low. During his visit to China last year, Mike once repeatedly stressed that Sun's current share price is very low. Therefore, if Sun's Board of Directors chooses to sell the company at this time, it is undoubtedly unwise;

In addition, sun has not yet reached the point where it must be sold. Sun has a strong balance sheet in cash, and mclinney said that sun still has $3 billion, as the saying goes-"A thin camel is bigger than a horse.

At the business level, product line overlap is a problem that both parties cannot avoid.

If a transaction occurs, the overlap of the product line is obviously another issue that both parties need to face.

Because from the current products of both parties, the coincidence degree is undoubtedly too large.

From the operating system to the middleware to the basic hardware, from the CPU to the entire machine, from the server to the storage, we can say that sun currently has almost all of the business IBM has, both companies have a high share in the Unix server market. Therefore, even if anti-monopoly investigations are not taken into account, if IBM wants to make the deal, it will surely be highly challenged by investors. Of course, we can also think that, in terms of product coincidence, HP is more likely to purchase sun than IBM.

Then there is the integration of corporate culture.

Mergers and acquisitions will inevitably bring about a cultural collision. The integration of corporate culture is one of the key factors for successful mergers and acquisitions. This is a long-term and arduous task.

Many cases of mergers and acquisitions at home and abroad show that, due to the mutual disapproval of corporate culture and values, the efficiency of the restructured enterprises is low and even fails. For example, after the merger and restructuring of Time Warner and United States online companies, the problem of cultural convergence was constantly difficult. In addition, after the merger of high-tech enterprises by Accenture in 1980s, the company did not consider corporate cultural differences, this led to the failure of the "Accenture Office System" project ......

Sun, created by mcneili, is an easy and casual corporate culture that seeks creativity in disorder, not just in pursuit of so-called vague etiquette.

IBM, who is compared to the elephant, is the opposite. In terms of the way in which the elephant works, IBM emphasizes that everything should be the best result, both products and services must always be perfect.

At this point, the contrast between the two is indeed very large. In Chinese culture, if Sun is compared to a poet with a fairy spirit, then IBM is more like a disciplined soldier. It is hard to imagine what kind of enterprise culture IBM-sun will be like once they are integrated.

 

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