Analysis On Synergy Effect Of The Merger Of Hyron Software And 2345 Network Holding

There might be great changes specific to every second in China's economic development,which can hardly be described as "Changing rapidly".The age of the internet has made fast changes to the world after the "Internet plus",one of the buzz phrase in both politics and business fields,came into the public view.Under the situation,fonds from all sides flew into the Business Circle of Internet,while various enterprises in the internet economy refused to admit being inferior.These led to the fact that good businesses were thriving and poorly managed ones were declining,which is also the main background for the put-forward of this article.To an enterprise,Merges and Acquisitions could be the best way to promote the development and expand the scale and also to optimize the allocation of resources.Many of them has achieved higher efficiency through alliances and transformations.However,not all mergers and acquisitions were successful because a lot of them were knocked out and came to a bad end.In this article,the cases of Hyron software and 2345 Co.Ltd.'s merger and acquisition were chosen to explore the reason of enterprise merger through the analysis of the case,so as to understand the specific implementation processes of mergers and acquisitions and its pros and cons,and to form a positive reference for subsequent mergers and acquisitions through the summarization of Hyron software's case.The dissertation consists of five parts,including introduction,related theory,case background,case analysis and conclusion and case studies.In the introduction part,it discusses the research background,significance of the topic and fundamental motivation of choosing the subject after the macro and micro environment of the study were presented.Also,it makes a literature and theoretical review of the relevant theories of mergers and acquisitions at home and abroad.This part briefly introduces the research content,abstracts the methods used in the research process and puts forward the innovations and existing problems.In the related theory part,it introduces the general situation and detailed connotation and extension of merger and acquisition,and also analyses its risks and possible motives.In this part,it points out the mainstream and general situation of multinational enterprises' merger and acquisition and puts forward hot issues of merger and acquisition nowadays in China.At the end of the introduction,the author explains the management synergy,operating synergy and financial synergy effect in detail.In part three,the author introduces the background of the case.Hyron Software and 2345 Co.Ltd.,which were two enterprises that both had internet background and were both in recovery stage in varying degrees.The former was in thedecline edge because of the value of Yen's impact,while the later was just redeemed from the "Ghost XP" pirate and badly needed to grasp at a straw.This passage introduces the background and history of the two enterprises and discusses the motives of merge and acquisition,and as far as possible to restore the real process.In the fourth part,the article finds out the correlation of the clues and collates and summarizes the changes of enterprises before merger and acquisition through the analysis of the financial statements,and also analyses the success of merger and acquisition from management synergy,operating synergy and financial synergy.The data involved were from the enterprises' annual reports which were direct and reliable,to some extent it is helpful to the analysis of the case.In the conclusion and implication part,the author reorganizes the four main reasons for the Hyron Software's merger and acquisition,and concludes the effective methods: to choose the right timing of mergers and acquisitions,to select the appropriate target enterprises,to focus on human resources collaborative management,to issue shares to raise funds for mergers and acquisitions,and to upgrade the business management model and timely change the development strategy.This dissertation can not discuss the innate secret of the merger and acquisition of Hyron Software in a more comprehensive perspective and with comprehensive information due to the author's limited capability of analysis.Instead,the passage tries to restore the real process of merger and acquisition and sort out the obvious changes.The pros and cons of merger and acquisition remain in-depth analysis,and the details of the merger and acquisition of Hyron Software remain deep exploration."Great things may be done by mass effort." The tide of social development is unstoppable.The discussion and research on mergers and acquisitions won't end because the ultimate aim of enterprise profit maximization will exist all the time.Merger and acquisition is always a double-edge sword.Those are good at using it could make their enterprise kingdom stronger day by day,while those who were stabbed by the sword could hardly stand up again for a moment.Thus,to help enterprises understand the pros and cons of mergers and acquisitions through analysis of the cases is to lend a helping hand for enterprise development,and also to set up a footstone for the nation's development and social progress.