Research On The Synergy Effect Of Ping An's Merger And Acquisition Of Auto House

With the development of Internet auto finance,its good market prospect has attracted extensive social attention.Various Internet enterprises have tried to use the Internet finance platform to achieve the innovation and change of development mode.In 2016,Ping An of China acquired 47.7% of the equity of auto house for us $1.6 billion,thus becoming the new actual controller of auto house.China Ping An's merger and acquisition of auto house is an important attempt for financial giants to lay out the auto industry in depth.It also represents that China Ping An has formally entered the Internet auto industry.Whether the merger and acquisition can finally play their respective advantages to form a synergistic effect has become the focus of attention from all walks of life.In this paper,Ping an M & a automobile home as the case of this study,combined with the emerging Internet auto finance background to analyze the synergistic effect of the case,for the M & A of the Internet auto finance industry reflects a certain practical significance and guidance value.Firstly,based on the previous research results,this paper defines the concept of M &A and M & a synergy,expounds the main contents of M & a synergy,divides it into four aspects: management synergy,operation synergy,financial synergy and intangible assets synergy,and combs the synergy effect theory,scale economy theory,market power theory and diversification management theory For the theoretical basis of the study.Then,the paper investigates the industry environment and motivation of Ping An's merger and acquisition of automobile home,elaborates its merger and acquisition process and merger and acquisition integration measures.On this basis,combined with the Internet automobile financial environment,the paper adopts the method of combining financial indicators and non-financial indicators to analyze the management synergy,operation synergy,financial synergy of Ping An'smerger and acquisition of automobile home The synergy effect of intangible assets is analyzed systematically.Finally,the paper makes a comprehensive evaluation of the synergy effect of Ping An's merger and acquisition of auto house,and analyzes the significance of the synergy effect after the case merger and acquisition.The conclusion shows that the purpose of Ping An's acquisition of auto house is to strengthen the business of the financial holding group and improve the level of Internet auto financial services.After the acquisition,through executive cleaning and strategic deployment,Ping An and auto house have achieved better synergy in management synergy,sales synergy,financial synergy and intangible asset synergy,which is beneficial to Ping An and auto Both sides of the family are more successful.It is hoped that this paper can combine the characteristics of Ping An's M& A of China and the common characteristics of hybrid M & A,and provide reference for the M & A of financial enterprises and Internet automobile industry under the background of Internet automobile finance.