Research On The Motivation And Effect Of Supermap Software High-value Merger And Acquisition Guotu Information

In recent years,China's software and information services industry has developed rapidly under the support and encouragement of the state.With the prosperity of the industry,there has been a wave of mergers and acquisitions in the industry,and the price of equity transactions in the target companies in mergers and acquisitions has become higher and higher.However,the huge risks behind the frequent occurrence of high-value mergers and acquisitions have to be highly valued and worried by the academic community.This paper selects the typical high-price case of hypergraph software to acquire Guotu Information as the research object,and will study the motives of mergers and acquisitions,the cause of high premium and the effect of mergers and acquisitions,and analyze whether high-price mergers and acquisitions can bring positive to enterprises M&A effect.This paper will use case study methods to study this merger and acquisition event.This paper firstly elaborates on the motives of mergers and acquisitions,the theory of synergy,and the evaluation methods of M&A effects.Secondly,by collecting relevant data and data,mining the motivation of SuperMap software to acquire Guotu Information,and then the premium level of this transaction and the same industry.The average premium level is compared to explain the premium level of the merger,and then analyze the reasons for the equity valuation premium of the Guotu Information from the aspects of industry characteristics.Then,using the event research method,the financial index analysis method and the economic value added method to analyze the M&A effect of the hypergraph software merger and acquisition Guotu Information,and finally draw conclusions and make recommendations.The research indicates that the motivation of SuperMap software to acquire Guotu Information includes the support of national policies,increase the market share of enterprises and reduce operating costs,while the selection of Guotu Information into hypergraph software is mainly to broaden financing channels and achieve “curve listing”.To enhance the visibility of the company.Through the comparative analysis of M&A premium,this paper finds that the super-map software acquisition of Guotu Information is a high-value merger,which is mainly because SuperMap software wants to enter the real estateregistration market and must acquire high-quality enterprises in the market.The technical advantages in the field of real estate registration are obvious.In the effect analysis part of this paper,it is found through the event research method that the capital market's response to this merger is positive.Through the analysis of synergistic effects,it is found that this transaction has significantly improved the market share,profitability,and solvency of the main parties,resulting in synergies.Through the analysis of economic value added,it was found that this acquisition brought positive M&A effect to SuperMap software.At the same time,it also shows that the high premium of the merger can create positive M&A effects for the company,and the high premium has certain rationality.The case study in this paper provides an analysis of the rationality of evaluating premiums in mergers and acquisitions activities and the impact of premium mergers and acquisitions on the effectiveness of mergers and acquisitions.In-depth thinking on high-value mergers and acquisitions,feasibility analysis of mergers and acquisitions programs,etc.,will provide reference for high-value mergers and acquisitions.