在整個半導體的供應鏈中，從晶片的設計到晶圓製造一系列的流程中有一個環節是不可省略卻是各家廠商竭其所能地想降低成本。那就是測試。
但是測試成本又因為晶片設計的功能變多而成本提高。因為希望藉由測試來協助驗證，進而確保產品品質。也就是說，對晶片功能與測試有著密不可分的關係，但兩者的成本與功能的關係又有的非線性的有趣關係，正所謂魚與熊掌不可兼得，廠商在這個部分有著不一樣的策略與思維。
因此測試會因為晶片功能與廠商策略而影響測試設備商的獲利與產品研發方向外，將此研討的範疇延伸得到競爭廠商的相互角力方面，伴隨著競爭，有些測試設備廠商得以延續，有些廠商則被合併。但在合併策略上如何去評價測試設備商的價值？又該從哪些方面來評估？這也就是此研究報告所要探討的目的。而探討的對象會以國外前六大半導體測試設備商為範圍。

In whole semiconductor industry, the firms through excellence supply chain to gain the maximum profit. But, the competition will become more and more challenge due to technology and production revolution in coming years.
Device testing is one of step of whole supply chain. This step happens on the wafer level and assembly package level. With device technology revolution, the testing requirement becomes more complex, from pure digital to mixed-signal, then to radio frequency. But, most of firms would like to reduce cost from testing step, and then would like to invest with DFT and BIST research. This kind of strategy, the cost become to major topics address by firms, in order to reduce the cost. From inside of testing industry, the mergers and acquisitions happened in the past several years.
How to evaluate the values of companies will be our objective we would like to discuss, and some investigation and discussion also will be address in this paper, base on finance and strategy.

英文部分:

1. AN ASTD RESEARCH STUDY, The Values Of Evaluation, 2009
http://www.wikinvest.com/
2. Teradyne Balance Sheet
http://www.wikinvest.com/
3. Teradyne Cash flow Sheet
http://www.wikinvest.com/
4. Teradyne Income Sheet
http://www.wikinvest.com/
5. Paul D. DeCosta, An Analysis of Revenues and Product Planning for Auto Equipment Manufactures, 1998
6. ATE Balance Sheet
http://www.wikinvest.com/
7. ATE Cash flow Sheet
http://www.wikinvest.com/
8. ATE Income Sheet
http://www.wikinvest.com/

中文部分:
1. 郭敏華譯，Palepu . Healy.Bernard, Business Analysis and Valuation Using Financial Statements 3e，企業分析與評價，台北，華泰發行，2006年。
2. 林聰毅譯，Bob Vause, Guide to Analysis Companies，如何分析一家公司，台北，財信出版，2010年。
3. 謝美緞編著，Business Valuation，企業價值，台北，鼎茂圖書，2004年。