2016??????????9???￡??????????????????????????????????ж?????????????????????????????????????????????????????????Softbank??????????320???????????ARM??

????????????????????????????????????????????????Щ??????????

о??г????????????????????????????????????????????????????????????????????Щ????????о?????????????????

IC Insights?????г??о??????Rob Lineback?????“2016?????????‘????Ч?’??hangover effect?????????????????????г???λ???????????2015??????????”

???仰???“?????????ж?????????????”????????????“??Щ??????ж???????????????????????????????????????????????????????????”

????????

Pricewaterhouse Coopers??PwC??????λ????——??????????Rakesh Mehrotra??????????????????Rob Fisher????????????б????“???????????????M&A???????????????????????????????????????????????????18???????????”

“??????????????????????????????????δ??ú?????????????????????????????????????????????????”

2016???1??????20????幩??????????а?

????????????????????е??20?????а?2016???1?????У?????????о??????????18????????????????????????

??EE Times????????λ??????????г?????????δ??????????????????????????????г???Щ????????????????????????????????????

?????????

?????????????????????Щ???????г?????????????

PwC??Mehrotra??Fisher????????????????“?????????”??????“?????????????????г?”??

??????????????“???????????IoT???г???????????????Щ?г???????????????????????????????????Ч???????????????????????????á?”

?????“??????г????????????????Щ???????????????г????????????????”

????IoT???????????????????Χ?????漰???????????Semico Research???Jim Feldhan?????“?????????????????IoT?????????????????????????/???????????????????????????????????/MEMS????????????????????????(MCU)???”

?????????“MEMS????????г?????????????????????????似????λ??????????????????????????硣”

IHS Markit??????????????????????Jonathan Liao???????????????“IoT?????????????????????????????????????????á?”????IoT??????????????????????????????????????????С??????????????

???????????????????????????г????????/?????????

PwC????????????“????????????????????????г??????????????????ж???????????”

????????“?????????????????????????????????????????????????????????FPGA??????”??????“?????????????????????????ARM???????г???????????????????????”

?????????嵥??

Feldhan??????“?????κι??????????????????????”

Lineback?????????????“????????????????????е?????IC???????????????10????????￡???????5???????????????????????????????????????????????????????????е??г????????”

???????????“??????????????????????????????????????????????????????????????????????????”

?????????????Renesas??????????????32??????Intersil????????????????‘???????’???????????????????????????????????????????

?????Maxim Integrated??

???????????У?Deutsche Bank???????????????о???????д????“?????????????????????????????????????????????????????δ???????и??????????”?????????‘Maxim’???????“????????????????????????????”

?????????????????Maxim?????????

Lineback????Maxim????????г????????????ì???????“Maxim?????????????????????ù????????????TI??ADI???????????”

??????????????Maxim???κν???????????????“???????TI??ADI????????????”????Lineback?????“ADI???????148??????????????????????Linear Technology????”

?????IC Insights“?????Щ?????????TI????????ж???????????????????IC?г????????λ??”

Maxim??2015??2016????????????

???????Xilinx??

???岢????????????????ī?????????????Xilinx?????

????Feldhan????????“Xilinx????????????????????Intel??????Altera????????????????”Xilinx?????????????????ú???????????г?????????????????

Feldhan?????“?????Qualcomm???????????????????????????￡?Xilinx??????????????????????????Xilinx??????????Altera?????????????????????????е?????????????????”

??????????Xilinx???????????????8?μ????????137.3???????

?????????167????????Altera???????????????????????????γ?????FPGA??????????????????????????IoT?г?????2????

Lineback?????“??????????????????????ЩIoT??????”?????????????????????????????????????????????????Altera??????????????-Xilinx???????????“??????”??

????????Xilinx??????????????????ù????????“????SoC??????????????????IoT???????????????豸???????????????ζ???г???????????????????????????????????????????????”

??????????????г???Xilinx??????????

???????Lattice Semiconductor??

????Xilinx?????????????????????Lineback?????“????????壨Lattice Semiconductor??????????????????????????”

???????????2?·???????“?????????????????????Morgan Stanley???????????????????????????а???????й??????”

??????????????????SEC????13D????????????5?·?????й????????????????——?廩?????Tsinghua International???????????????10,295,154???????????????8.65%??

?????????й??????????????????????п????????Feldhan?????????IoT?????????“?????????????????????”

?????Lineback???????????????????????????????????????????ASSP???????????????Lineback????????????2015??????6.07??????????}?????Silicon Image???????ASSP?????????????????????????????????????????????WiGig????????????mmW????????

????????????????

??????????Silicon Image??????????г?Darin Billerbeck?????????‘????????’???????????????ε????“??????????????????????”???????????о??л??????FPGA??ASSP??

о??????Silicon Labs??

????????????????IoT???????о??????Silicon Labs????????й?IoT???????????????????????????????

Lineback?????Silicon Labs“??????????????????????????10?????????????????2011???1??????200???????????????????????IoT????????????????????????????????????ZigBee??Thread???????????32λARM??????MCU??????????????”

??IoT????Silicon Labs?????????в??????????????ù????????2012?????ZigBee???Ember??2013?????λ??????????????ЧMCU???Energy Micro?????2015???????????????鷯???Bluegiga Technologies???????????IoT???????

?????Silicon Labs????????????????????????????????????????????????

???????Broadcom????IoT????????????????????Cypress????????????Silicon Labs??????????????????????RAIL????????????????????????????????????Connect????????????IoT????????????

????Silicon Labs????????Lineback???????????????8?μ???????24?????????“???????????а???????????????????????”

Silicon Labs??2015 Q4-2016 Q3??????????????

??????Marvell Technology??

??粢????????Marvell Technology?????????????????Щ?????????ù????????????????????????

Lineback????“???????????????Marvell???????????????????????IoT???y?????????????SoC??????????????洢???????????3??——??FLC??IC???????——???????黯о???MoChi???????”

????Marvell?????????????????“?????????????????????????????г?????????????????????????”???????????

????????????Starboard Value???Marvell?6.7%??????Starboard?????6??????????Maxim???θ???????Matthew Murphy????Marvell??????г??????????Murphy???22????????Maxim???????????λ???????????

Starboard????????Marvell???????????????????????????????????????ж???δ??????

Marvell??2014-2016????????????

Integrated Device Technology (IDT)

??????????IDT??IDT?????г?Ted Tewksbury??????????Starboard Value?????18???μ???????????????????????

????Starboard????IDT??????????????????????????????????Lineback??????“?????????б??????IDT?????????——????????1990?????”

?????г?????￡?IDT????????????????——????????????????????????????????RF???????????RapidIO?????????Starboard??????ù??????????????????????PMC Sierra??????????????Atmel???????????????????????????????Apple???????IDT??????????????????Tewksbury???IDT“???????4.5G??5G?г??аε????”

??Lineback??????IDT??????12????3.07????????λ??1?????????ZMDI???ù????????????????

?????????ZMDI??????????????????????г???Lineback???????IDT“?????????????????????????????????????????????????????????????????????????????????г???”

Lineback?????????ù??????27???????????????IDT????????30?????????????IDT??????????7????????????????????????????????????????“IDT???????12??????????????”

IDT??2014-2016???????????

????

???????????????????????????????Skyworks??Macom??Qorvo?? Feldhan?????“??Щ???????????????????????ò????ú?????????????RF?????????”

?????????“??Щ???????????????????????????????????????????????????Щ????????????????????????г??У??????????????????????”

????????????Lineback???????????????“?????????????IDT?????????????InvenSense???????????/RF IC?????MaxLinear??????????о???????Power Integrations (PI)???”

??Щ???“???????????????????????????г??ж??и???????”Lineback?????“????IoT??????????????——?????????????——???????????????IoT??????????????????????????????????”

????

????????????????????????????о????????????????????????г????????

PwC????Mehrotra??Fisher?????????Щ??????????У?????????/???????????“???????????幫?????Щ????е??????????????????????????????????????????????????????г?????????????”

???????????????“????????Moore’s law?????????????????????????????????????”Mehrotra??Fisher?????“????????????????????????￡??????з???R&D??????????e???????????????????????G&A???????????????????????????????Ч???????????????????????з????á?”

“??????????幫??????????ù??????????????????”

????????ж??????????????????й???Lineback?????“????????????????IC??????????й??????????????????廩?????й????????????????????????????????????￡?????????????в????譚???Щ????????????”

?????????????‘???????’??Liao?????“??????????????????????н??????????????????????3%????????????????????”

?????????????????