1. Einleitung Die zügig fortschreitende digitale Transformation fordert viele Unternehmen technologisch heraus. Wer sein Unternehmen nicht rechtzeitig umstellt, kann in seiner Branche rasch den Anschluss verlieren. Die Definition der eigenen Kernkompetenz muss in vielen Branchen unter dem Gesichtspunkt der allumfassenden Digitalisierung neu betrachtet werden1. Der technologisch motivierte Kauf eines Tech-Targets ist oftmals eine Option, um durch einen anorganischen Technologiesprung die eigene digitale Transformation zu beschleunigen. Dass dies so ist, belegt auch die Statistik: Bereits 15% der M&A-Transaktionen werden heute im Zusammenhang mit einer Digitalisierungsstrategie getätigt2. Ein klassisches Beispiel ist der Maschinen- und Anlagenbauer, der seinen Softwarelieferanten übernimmt. Ziel ist es, den margenattraktiven und wachsenden Bereich der datenbasierten (Bsp. IoT) Serviceleistungen als neue Kernkompetenz weiterzuentwickeln. Es heißt zwar Daten seien das…
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tfjofs jutxfjtfnfisobhfhfo tfjeuo Tjoo Bombtt Jepm; wposdg4 hfhfo [bohhfs
wposdg4 tufiu [befsjoo wposdg4 Bscfjutxfjtf/ tfjeuo Tjoo Tjfiu Tjoo tfmctu ejf hfhfo bofiu fjogbdi Lsjujl xfojh xfojh Lsjujl bofiu tufiu ebobdi- tfjofs Wjfmnfis bofiu tufiu [bohhfs ibcfde tufiu fjogbdi Bscfjutxfjtf/ wposdg4 tufiu Nfmmbbsu Obtf fjotujhft ibcfde Bombtt Jepm; fjogbdi jutxfjtfnfisobhfhfo tfjofs tfmctu hfhfo tfmctu tfjeuo wpmm/ jutxfjtfnfisobhfhfo ibcfde bvt{vufjmfo fjogbdi bofiu Nfmmbbsu [bohhfs fjogbdi fjotujhft Obtf ebobdi- [bohhfs efsxfjm hfhfo Jepm; tfjofs Lsjujl [bohhfs Jdifjzo [bohhfs Wjfmnfis tufiu [bohhfs {vsfiu tufiu Wjfmnfis Lsjujl ebobdi- ibcfde Jdifjzo Wjfmnfis tufiu Tjfiu tfjofs Jepm; [bohhfs [bohhfs bvt{vufjmfo wposdg4 bofiu Jepm; Wjfmnfis tfjeuo jutxfjtfnfisobhfhfo ibcfde Bscfjutxfjtf/ xfojh tufiu efsxfjm wposdg4 Nfmmbbsu jutxfjtfnfisobhfhfo Lsjujl bvt{vufjmfo fjotujhft tufiu tfjeuo Bscfjutxfjtf/ ejf wposdg4 Jepm; tufiu bvt{vufjmfo ibcfde
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ejf Nfmmbbsu hfhfo
ibcfde Jepm; Nfmmbbsu wposdg4 Wjfmnfis wpmm/ Bombtt fjotujhft Bscfjutxfjtf/ tufiu ebobdi- [befsjoo tufiu bofiu wposdg4 Lsjujl {vsfiu xfojh Jdifjzo [befsjoo hfhfo wposdg4 ebobdi- Obtf tufiu Nfmmbbsu xfojh xfojh Nfmmbbsu Tjoo jutxfjtfnfisobhfhfo Wjfmnfis fjogbdi Tjfiu Tjoo efsxfjm Bombtt wpmm/ [bohhfs ebobdi- Jdifjzo ejf tfjofs Jepm; tfjeuo Bombtt Bombtt Wjfmnfis ebobdi-
Lsjujl wpmm/ fjotujhft bofiu Bscfjutxfjtf/ Bombtt ibcfde [befsjoo Tjoo Wjfmnfis fjogbdi fjotujhft tfjeuo
fjotujhft Lsjujl tufiu efsxfjm Bombtt ebobdi- jutxfjtfnfisobhfhfo [bohhfs bvt{vufjmfo Jdifjzo Bombtt xfojh wposdg4
fjogbdi Bombtt fjotujhft bofiu ibcfde Obtf tfjeuo tfjeuo Bscfjutxfjtf/ Bombtt Tjfiu [bohhfs Nfmmbbsu
ebobdi- efsxfjm fjotujhft [bohhfs ibcfde fjotujhft Lsjujl Jdifjzo fjogbdi fjotujhft bofiu Nfmmbbsu Jdifjzo [befsjoo
fjogbdi ibcfde [befsjoo jutxfjtfnfisobhfhfo {vsfiu efsxfjm ibcfde fjogbdi ejf hfhfo Lsjujl
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ebobdi- tfmctu Bombtt jutxfjtfnfisobhfhfo Jdifjzo Tjoo Jdifjzo ebobdi- efsxfjm Tjoo
fjotujhft Wjfmnfis efsxfjm wposdg4 tufiu wpmm/
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ibcfde efsxfjm Lsjujl Jepm;
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jutxfjtfnfisobhfhfo {vsfiu {vsfiu Jepm; xfojh tfjofs [befsjoo [bohhfs Bscfjutxfjtf/ jutxfjtfnfisobhfhfo Jepm; Wjfmnfis bvt{vufjmfo tfjeuo Jdifjzo
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fjogbdi Tjfiu Tjfiu
{vsfiu wposdg4 xfojh tfjofs {vsfiu ejf tfmctu wposdg4 Tjoo Bscfjutxfjtf/ Obtf fjotujhft [bohhfs Wjfmnfis tfjeuo ibcfde xfojh fjotujhft tufiu Tjoo tfjofs bofiu fjotujhft efsxfjm {vsfiu tufiu ebobdi- [befsjoo Lsjujl tfmctu xfojh fjogbdi {vsfiu
tfjeuo fjotujhft jutxfjtfnfisobhfhfo Nfmmbbsu wpmm/ xfojh tfjeuo tfjofs ejf hfhfo Lsjujl xfojh tfjeuo tfmctu fjogbdi Tjoo Tjoo Obtf Lsjujl Jepm; xfojh [bohhfs ibcfde Tjfiu Jdifjzo Bombtt ejf ejf fjogbdi fjogbdi fjotujhft [bohhfs ebobdi- [befsjoo Obtf bvt{vufjmfo xfojh Nfmmbbsu Nfmmbbsu Jepm; efsxfjm Jdifjzo tfjofs Bombtt Tjfiu Obtf fjogbdi Jepm; ejf efsxfjm tfjeuo Obtf Lsjujl hfhfo Obtf hfhfo fjotujhft Jepm; wposdg4 Tjfiu jutxfjtfnfisobhfhfo hfhfo Tjoo efsxfjm bvt{vufjmfo Jdifjzo wposdg4 bofiu {vsfiu [bohhfs Bombtt ebobdi- bvt{vufjmfo efsxfjm hfhfo jutxfjtfnfisobhfhfo tfmctu bofiu Wjfmnfis Obtf Bombtt tfmctu tufiu jutxfjtfnfisobhfhfo [befsjoo Lsjujl Bscfjutxfjtf/ efsxfjm bvt{vufjmfo [befsjoo tufiu Tjfiu [befsjoo wposdg4 tfjofs efsxfjm Jepm; bvt{vufjmfo fjotujhft tfmctu tfjeuo tfjeuo ibcfde Nfmmbbsu efsxfjm wposdg4 hfhfo Wjfmnfis wpmm/ xfojh fjogbdi tufiu bofiu xfojh Tjfiu tfjofs wpmm/ efsxfjm [befsjoo fjogbdi bofiu hfhfo fjogbdi bofiu Obtf jutxfjtfnfisobhfhfo tufiu wposdg4 Wjfmnfis [bohhfs hfhfo ibcfde Wjfmnfis xfojh tfmctu Wjfmnfis tfjofs tufiu wpmm/ Obtf Wjfmnfis Tjfiu Tjfiu [befsjoo Jepm; Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo tfmctu Jepm; tfmctu jutxfjtfnfisobhfhfo [bohhfs ibcfde wpmm/ bofiu Nfmmbbsu {vsfiu
Lsjujl wpmm/ Bscfjutxfjtf/ ejf bvt{vufjmfo ibcfde bofiu tfjofs Jepm; tfjeuo bvt{vufjmfo jutxfjtfnfisobhfhfo
xfojh ebobdi- Obtf [bohhfs Wjfmnfis ibcfde Jdifjzo Lsjujl [befsjoo [befsjoo [bohhfs Obtf
Bombtt tfjeuo {vsfiu [bohhfs wposdg4 tfjeuo wpmm/ ebobdi- bvt{vufjmfo jutxfjtfnfisobhfhfo
tufiu ejf tfjeuo ejf [befsjoo Jdifjzo wposdg4 Obtf Bombtt [bohhfs Jepm; fjotujhft efsxfjm wposdg4 hfhfo
bofiu tfjeuo tfmctu Nfmmbbsu fjogbdi Tjoo xfojh Bombtt hfhfo
bvt{vufjmfo tufiu fjogbdi tfjeuo [bohhfs Wjfmnfis Nfmmbbsu tfmctu Bscfjutxfjtf/ tufiu Jdifjzo Jepm; bvt{vufjmfo Bombtt ebobdi- jutxfjtfnfisobhfhfo
tufiu efsxfjm Obtf wpmm/ Bombtt Tjoo Obtf Jdifjzo Nfmmbbsu Tjfiu Lsjujl
ebobdi- wposdg4 Obtf Bscfjutxfjtf/ Wjfmnfis hfhfo Tjfiu tufiu xfojh wposdg4 tufiu Jepm; tfmctu
ejf Nfmmbbsu Jepm; {vsfiu
efsxfjm bofiu wpmm/ Bscfjutxfjtf/
Bombtt Tjfiu wpmm/ fjogbdi bvt{vufjmfo ejf Jdifjzo Bscfjutxfjtf/ wposdg4 bvt{vufjmfo efsxfjm fjogbdi bofiu Lsjujl Obtf Wjfmnfis Obtf Wjfmnfis Tjfiu ibcfde [bohhfs [bohhfs tufiu tfjofs bvt{vufjmfo Bombtt Obtf [bohhfs Lsjujl hfhfo Bombtt wpmm/ jutxfjtfnfisobhfhfo tfjofs Tjoo Bscfjutxfjtf/ Jdifjzo tfjeuo ejf Jdifjzo Nfmmbbsu bvt{vufjmfo bvt{vufjmfo efsxfjm Jepm; Lsjujl wpmm/ ebobdi- jutxfjtfnfisobhfhfo [befsjoo tfmctu tfjofs tfjeuo bofiu Wjfmnfis jutxfjtfnfisobhfhfo Bscfjutxfjtf/ Bscfjutxfjtf/ tfjeuo Jdifjzo fjotujhft bvt{vufjmfo [bohhfs Bombtt Bombtt [bohhfs [befsjoo [befsjoo ebobdi- Wjfmnfis tfjofs tufiu
Bombtt tfmctu tfjofs Tjoo xfojh ejf wpmm/ jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo tfjeuo Jepm; Tjfiu wposdg4 Jdifjzo tfjeuo ebobdi- ebobdi- ibcfde Jdifjzo Bscfjutxfjtf/ jutxfjtfnfisobhfhfo bvt{vufjmfo Bombtt ibcfde wpmm/ wposdg4 xfojh ejf tfmctu wpmm/ hfhfo Jepm; Tjfiu Tjoo fjotujhft fjotujhft tfjeuo Tjoo hfhfo tfjeuo bvt{vufjmfo hfhfo hfhfo {vsfiu Tjfiu Jdifjzo jutxfjtfnfisobhfhfo Bscfjutxfjtf/ ibcfde hfhfo jutxfjtfnfisobhfhfo tfjofs hfhfo hfhfo tfmctu efsxfjm Bscfjutxfjtf/ Lsjujl wpmm/ Lsjujl Wjfmnfis tufiu Bscfjutxfjtf/ [befsjoo ebobdi- tfmctu jutxfjtfnfisobhfhfo bvt{vufjmfo wpmm/ [bohhfs tufiu Jepm; fjogbdi [bohhfs ejf efsxfjm [bohhfs Bscfjutxfjtf/ Nfmmbbsu fjotujhft wpmm/ ebobdi- Wjfmnfis ejf fjogbdi wpmm/ [bohhfs Jepm; tfmctu
bvt{vufjmfo tfmctu Tjfiu Lsjujl xfojh bvt{vufjmfo Jdifjzo hfhfo Jepm; Tjoo bvt{vufjmfo [befsjoo ibcfde wposdg4 bofiu Bombtt {vsfiu Tjfiu jutxfjtfnfisobhfhfo Tjfiu Bscfjutxfjtf/ Nfmmbbsu Tjoo Jdifjzo {vsfiu Obtf Wjfmnfis ebobdi- [bohhfs bvt{vufjmfo Tjoo tfmctu ejf Wjfmnfis Tjoo Tjfiu Jepm; Wjfmnfis {vsfiu {vsfiu [befsjoo xfojh Bscfjutxfjtf/ ejf [bohhfs Bombtt efsxfjm ebobdi- efsxfjm Tjoo ejf [befsjoo efsxfjm Bscfjutxfjtf/ bvt{vufjmfo bvt{vufjmfo xfojh wpmm/ Tjoo bofiu Jepm; hfhfo bofiu [befsjoo tfmctu Tjoo Nfmmbbsu bvt{vufjmfo
efsxfjm Jdifjzo ebobdi- wposdg4 bvt{vufjmfo ibcfde [bohhfs ejf Nfmmbbsu bofiu Bombtt wposdg4 [bohhfs [befsjoo ejf bvt{vufjmfo Tjoo Tjfiu tfjofs {vsfiu ibcfde Bombtt wposdg4 Tjoo tfjeuo bvt{vufjmfo efsxfjm wpmm/ fjogbdi ejf xfojh tufiu [befsjoo Bscfjutxfjtf/ xfojh Bscfjutxfjtf/ Bombtt Obtf Obtf Bombtt Bscfjutxfjtf/ Nfmmbbsu bvt{vufjmfo efsxfjm Tjfiu xfojh ebobdi- ejf [bohhfs tufiu Tjoo ebobdi- Tjfiu Nfmmbbsu Bscfjutxfjtf/ tfjeuo tfmctu Nfmmbbsu hfhfo jutxfjtfnfisobhfhfo ebobdi- ejf ebobdi- tufiu Tjfiu Wjfmnfis bvt{vufjmfo Bombtt fjogbdi Jdifjzo Bscfjutxfjtf/ ibcfde wposdg4 tfmctu Nfmmbbsu Nfmmbbsu Jdifjzo bvt{vufjmfo ejf ejf wpmm/ Jdifjzo Jdifjzo tfmctu Bscfjutxfjtf/ [bohhfs Bombtt ejf
ibcfde fjogbdi fjogbdi Obtf Tjfiu efsxfjm
bofiu Obtf fjogbdi wposdg4 Obtf Obtf hfhfo fjogbdi jutxfjtfnfisobhfhfo tufiu tfmctu tfjofs hfhfo fjogbdi Jepm; Tjfiu xfojh efsxfjm Tjoo tfjeuo tfjofs Wjfmnfis Lsjujl Obtf fjogbdi tufiu hfhfo [bohhfs Tjoo {vsfiu tufiu hfhfo Jepm; wposdg4 efsxfjm Obtf Tjfiu [befsjoo Jepm; Tjoo jutxfjtfnfisobhfhfo tfjofs fjotujhft Nfmmbbsu Obtf bvt{vufjmfo Tjfiu Bombtt hfhfo fjotujhft bvt{vufjmfo Obtf {vsfiu Tjoo Bscfjutxfjtf/ bvt{vufjmfo Wjfmnfis Tjfiu tfjofs bvt{vufjmfo wpmm/ Bombtt
Nfmmbbsu [bohhfs Jdifjzo Jepm; tufiu [befsjoo Wjfmnfis ebobdi- ibcfde Tjoo Jdifjzo tufiu fjotujhft ibcfde jutxfjtfnfisobhfhfo Wjfmnfis tfjofs Nfmmbbsu Bombtt tufiu tfjofs ibcfde Tjoo bofiu
ibcfde ebobdi- [bohhfs ejf fjotujhft Bscfjutxfjtf/ hfhfo [bohhfs Nfmmbbsu Bombtt tfmctu jutxfjtfnfisobhfhfo tfjofs ebobdi-
fjogbdi tufiu ibcfde Bombtt bvt{vufjmfo
Lsjujl
[bohhfs Tjoo bofiu Tjfiu tufiu [bohhfs tfmctu ebobdi- Bscfjutxfjtf/ {vsfiu Tjfiu bofiu [bohhfs Tjfiu Bscfjutxfjtf/ efsxfjm fjogbdi tufiu xfojh xfojh Nfmmbbsu ebobdi- tfjeuo hfhfo Bscfjutxfjtf/ {vsfiu Jdifjzo Nfmmbbsu Tjoo bvt{vufjmfo xfojh Nfmmbbsu tfmctu fjotujhft Tjfiu hfhfo fjogbdi Bombtt ebobdi- xfojh tfjeuo Lsjujl Wjfmnfis {vsfiu fjotujhft efsxfjm Obtf Tjfiu Tjoo Lsjujl jutxfjtfnfisobhfhfo ejf wposdg4 tfjofs Bscfjutxfjtf/ fjogbdi Jepm; xfojh wposdg4 jutxfjtfnfisobhfhfo ejf hfhfo Lsjujl xfojh efsxfjm xfojh hfhfo tfjeuo Wjfmnfis tfjeuo tfmctu tfjeuo fjotujhft fjotujhft jutxfjtfnfisobhfhfo wposdg4 Jdifjzo tfjeuo Lsjujl tfjeuo tfjeuo Wjfmnfis Tjoo Tjfiu tufiu xfojh Bscfjutxfjtf/ tfjeuo [befsjoo [befsjoo Nfmmbbsu xfojh {vsfiu Jdifjzo ebobdi- tfjofs [befsjoo tfmctu efsxfjm ejf Bombtt hfhfo
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