Kodak's M&A Strategy And Performance Analysis Of Internet Marketing Company

In the Internet era,social and economic conditions have undergone great changes.A large number of traditional enterprises have transformed into the Internet industry through mergers and acquisitions of Internet companies.Under the general environment in which China's economy has shifted from a stage of high-speed growth to a stage of high-quality development,the cooperation of traditional enterprises and Internet companies can not only bring new vitality to traditional enterprises,but also help the expansion and development of the Internet industry.In recent years,cases of cross-border mergers and acquisitions of Internet companies by traditional companies have been commonplace in China 's capital market.Cross-border mergers and acquisitions have become a fast track for traditional companies to cross industry barriers and seek their own development.It is foreseeable that cross-industry mergers and acquisitions will continue to be one of the important means to optimize China's capital market in the future.However,after traditional companies cross-border mergers and acquisitions of Internet companies,they may not always achieve the goal of improving performance.On the contrary,they may also have a negative impact on the company.Study the M & A performance of traditional companies' cross-border M & A Internet companies,analyze the change trend of the company's performance after the M & A activity,and draw research enlightenment based on the analysis results,which can provide a reference for traditional enterprises that intend to adopt similar M & A behaviors.Based on the relevant theories of mergers and acquisitions,this article uses a combination of induction and case studies to select the traditional construction company,Kodak Co.,Ltd.,two rounds of mergers and acquisitions of eight Internet companies such as Baifusi as case study materials.According to the annual report data and publicity Information,in-depth analysis of its M & A strategy and post-M & A performance,and evaluation of M &A effectiveness through changes in financial performance,to draw conclusions and related revelations.The main work and research conclusions of this article are as follows:Firstly,based on the introduction of the overview of the merger and acquired companies,combined with the development status of the Internet marketing industry and the status quo of traditional enterprise mergers and acquisitions of Internet marketing companies,analyze the motivation of M & A of Kodak shares.The motivations for discovering Kodak 's acquisition of eight Internet companies mainly include the following aspects: Promoting companies to integrate with the Internet;realizing the company 's business transformation;enhancing the company 's profitability;integrating and sharing high-quality resources.Secondly,by reviewing the process of two rounds of mergers and acquisitions of Kodak shares,the specific strategies of its mergers and acquisitions were analyzed.From the perspective of mergers and acquisitions,the eight Internet marketing companies selected by Kodak have their own core competitiveness in the industry;from the perspective of payment methods,Kodak has adopted equity payment and cash payment for the merger of eight companies.Combined way.Finally,select the performance evaluation methods such as event research method,financial analysis method and non-financial performance method to analyze the merger and acquisition effect from the short-term market performance and post-merger financial performance and non-financial performance changes.After analysis,it was concluded that the merger and acquisition of Kodak shares failed to promote the rise of the stock in the short term;but from the perspective of long-term performance,the company's financial indicators have been greatly improved after the merger and acquisition.In addition,from the perspective of achieving strategic goals,corporate visibility and service capabilities,Kodak shares have significantly improved after completing the above mergers and acquisitions.Based on the above conclusions,the following enlightenment is drawn: Enterprises in traditional industries can enjoy the policy dividends of the “Internet +” era through M & A Internet companies,but they must rationally select M & A targets before M & A and fully consider the risk of impairment of goodwill.Integration of all aspects of the enterprise.