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The Worst Tech Mergers and Acquisitions of Recent Times
By siliconindia
Fremont: When companies opt for a merger or acquisition, the hope that they will enjoy benefits like larger market share, diversification of products and services, and increase in plant capacity.
However, many times executives face major problems after the deal is made. These include cultural clashes, different systems and processes, decline in shareholder's value etc. Here are few deals of the 20th century, which backfired.
eBay's Acquisition of Skype
eBay--the site known for its online auctions, in the year 2005, bought Skype Technologies, an internet telephone startup for a whopping $2.6 billion, with a hope that online buyers would prefer PC-based voice calls to online auctions, thereby boosting communications and adding value to the company's core operations.
But the customer's reaction was totally opposite to what eBay had expected--eBay was a good online auction site, but nobody on eBay wanted to talk. For four years eBay tried its best to put its hyped propitious-acquisition to use, but had to end up selling Skype to private investors for a loss, for $1.9 billion. Skype was acquired by Microsoft in May 2011 for a staggering $8.5 billion.
