近年無形資產已成為企業併購的主要價值來源，而如何幫企業收購之無形資產爭取最佳的收購價格分攤(Purchase Price Allocation，簡稱PPA)利益，一直是業界關注的重要議題，所涉及的評價專業也愈來愈受到業界重視。由於全球封測市占龍頭日月光併購市占老三矽品一案萬眾矚目，經查我國幾乎沒有封測產業相關企業併購之無形資產評價研究，故希望藉由本個案提供研究貢獻。本研究依據國際會計準則及我國評價準則公報規定，選用收益法之權利金節省法及超額盈餘法，針對矽品之可辨認無形資產(商標、專利、專門技術)演示完整的評價實務作業，提供了一個如何替企業爭取較佳之收購價格分攤利益之參考範例。 本研究之結論顯示，在無形資產評價前與評價後，將使此併購案之商譽價值從771億元降至200多億元，大幅降低了未來商譽減損衝擊財報之風險，雖評價後之總租稅攤銷利益相較評價前減少了19億元至34億元，但評價前後相差500多億元之商譽價值，因減損風險下降而保留之價值，預期應遠高於損失的攤銷利益價值，可知正確地辨認及評價無形資產，的確可為收購公司帶來較佳之收購價格分攤利益效果。;Recently, intangible assets has become a important part of corporations’ value, so how to get the most appropriate “purchase price allocation”(called PPA) is a important issue for enterprises. People have much attention on that ASE that has the most market share in global packaging and testing industry merges SPIL that ranked third in the industry, and related studies about the valuation of intangible assets with merges and acquisitions in packaging and testing industry is almost none.Therefore, the purpose of this case study is that provide a contribution about valuing intangible asset for the field of research. The study uses “relief from royalty method” and “excess earnings business valuation method” that belonged to two ways of income approach method to value SPIL’s intangible assets ,and shows a good PPA example in practice.The study’s result shows goodwill value is from 77.1 billion down to more than 20 billion, also implies the risk of goodwill impairment of financial statement to decrease very much. As a result, recognizing and valuing intangible assets correctly indeed can get a better benefit for PPA in M&A.
