併睛是現代企業擴大生產規模、開發 新市場與通路、擁有新技術與價值創造的 重要途徑，尤其是跨國企業之間的併睛行 為，已成為全球投資人與企業集團，甚至 是政府團目的交易活動。事實上，跨團併 厲行為是一個複雜與動憊的過程，因為其 牽涉到兩國的法律、社會、公司文化、企 業策略及工會等因素的交互作用。本研究 運用三階段演化架睛，即併晴前自覺性演 化、併購中共演化、併購後自覺性演化， 嘗試利用生命系統及演化的觀點，探討亞 洲︱高科技公司Sony 併購歐洲公司Ericsson 手 機事業部的歷程，找出此併購賽成功的原 因，以增加對併購演化行為的暸解。研究 單現，併贖類似生命系統的演化，是一連串生命系統內部元件與外部環境變數不斷 宣勤、依存的過程。Sony 併購Ericsson 成功 的因素在接雙方事前資訊充分揭露，尤其 當找到併購目標公司後，雙方成功的共演 化。而併購後是否能有效率地進行自覺性 演化，是將來可否適應環境或存活的關鍵 過程。

Merger and Acquisition is an important way for modern enterprises to expand production scale, develop new markets and channels, and carry new technologies and value creation. Behaviors of merger and acquisition especially among multinational enterprises have become the major trading activities by global investors, enterprises, and even the government. Actually, merger and acquisition are complex and dynamic processes. Because of the interaction factors among laws between two countries, society, corporate culture, corporate strategies and trade unions etc. In this article, we use three-stage evolution of merger and acquisition, including conscious evolution before mergers and acquisitions, co-evolution in merger and acquisition, conscious evolution after merger and acquisition to explore the process of Asian high-tech company (Sony) acquisition a European company mobile phone division of Ericsson using the perspectives ofliving system, conscious evolution and co-evolution. In addition, we also try to explain the reasons behind this successful merger and acquisition case in order to increase the understanding of academics and practitioners throughout the evolutionary behavior of this transnational merger and acquisition. In this study we found that merger and acquisition is similar to the evolution of living system, and it is a series of continuous interaction and interdependent process between internal components and external environment variables in living system. Indeed, the success factors of Sony acquisition Ericsson can be the full disclosure information on both sides beforehand. More specifically, when companies searched for acquisition target each other, the future possibility to adaptation in environment or key process to survival all will depend on the efficient execution of the co-evolution and the acquisition in conscious evolution.