A Case Study Of High-premium Mergers And Acquisitions In The Internet Industry

With the continuous development of our economy,the Internet has profoundly changed the social mode and business operation mode of our country,and Internet companies have entered the golden period of mergers and acquisitions.Investors from major internet companies are moving their eyes to the capital market to achieve a strategic layout for moving into the mobile internet business through the acquisition of mobile internet companies.Small and medium-sized mobile internet enterprises need to rely on the resources of large companies to grow their strength.High-premium mergers and acquisitions become a new feature of the internet industry,the acquisition price of internet companies is several times higher than their own value or even dozens of times.The research on the case of high premium mergers and acquisitions by Internet companies is of great practical significance for analyzing new formats and valuation of the Internet industry.This paper first analyzes the background and significance of high premium M&A;a in internet industry,and expounds the research methods and contents of this paper;Second,combing the domestic and foreign research on this issue,including premium motivation and its relationship with premium,M&A value evaluation and synergy,and comparative analysis of the focus of our domestic research,on the basis of systematic analysis of previous research results,clarify the research methods to be used in this paper,namely case study,financial indicators,induction,etc.,and put forward the research ideas of this paper;Third,focusing on the current situation of China's high premium mergers and acquisitions to analyze and sort out,with the development of China's internet industry as the background,the current China's internet industry in the overall description of the existing cases,and based on the above analysis of China's internet industry high premium mergers and acquisitions problems,mainly includes three aspects:Financial valuation is too high,M&A integration risk is too high and the expected effect is not achieved.for the following theoretical analysis of the case of the 35.com Technology acquisition of the Daoxi Technology;Fourth,on the basis of a brief introduction of 35.com Technology and Daoxi Technology companies,this paper analyzes the reasons of the high premium M&A from the perspective of 35.com Technology,and then expounds the M&A scheme;Fifthly,combing and expounding the reflection of the post-merger market,mainly analyzing the post-merger effect from three aspects of the operation synergy effect,the financial synergy effect and the management synergy effect,analyzing the short-term and long-term market performance after the merger,and analyzing the financial performance by using the financial index analysis method so as to carry out effective evaluation.The results show that: after the completion of 35.com Technology M&A,Daoxi Technology has a positive effect on the comprehensive performance score of 35.com Technology,the performance of sanwu interconnection after m&a has increased significantly,which has positive significance for the development of the company and has made its profitability and other aspects of the long-term development;Sixth,according to the above analysis,this paper comes to the conclusion,from the internet industry high premium mergers and acquisitions behavior and supervision of two aspects put forward suggestions.The development of internet economy has a profound impact on every corner of society.The high premium mergers and acquisitions of internet companies in our country have become the characteristics and forms of new M&A and promoted the development of society.This article takes M&A motivation and other aspects of the elaboration,and the use of empirical analysis of mergers and acquisitions performance,with a view to provide practical significance of reference.