Research On The Performance Of Sanqi Interactive Entertainment's M&A Of Mokun Technology And Zhiming Network

With the advancement of the global integration process,enterprises will be more inclined to expand their scale,improve their own industrial chain and integrate resources through the effective way of mergers and acquisitions.As an emerging Internet segmentation industry,the online game industry has gradually demonstrated the expansion of the scale of online game users and the scale of the industry under the active promotion of the rapid development of the Internet.In the face of increasingly fierce online game market.The number of M&A of online game companies has also gradually increased,and the research on M&A performance of online game companies has gradually entered the field of scholars.Research on this has certain theoretical and practical significance.Before the merger of Sanqi Mutual Entertainment,it is considered to be one of the most profitable A-share listed game companies.The company operates a variety of game types and different themes of web games,and has a large number of registered users of the platform.It is currently an excellent game operator and research and development in China.Business.The main business of the acquired party Zhiming Network is the agent distribution and joint operation of online games.The merger and acquisition of Mokun Technology is a boutique mobile game and web game developer,with the core concept of research and development of quality games,with excellent R & D team and A sound R&D system has a good reputation in the industry.Therefore,this paper selects the case of mergers and acquisitions of M&S and Zhiming Network to conduct M&A performance research.The short-term performance research mainly adopts the event research method.The long-term performance is mainly to analyze the relevant financial indicators,and finally combine with the non-financial evaluation indicators to obtain the M&A performance.The study found that the short-term performance of the merger was obvious and had a significant cumulative extraordinary return rate.The comprehensive performance analysis of the four capability indicators showed that the long-term performance of the merger was also positive,but there were also long-term performance indicators that were not satisfactory.Development needs further integration.The enlightenment brought by this merger and acquisition is:Before the merger,the motivation of M&A,the method of merger and acquisition and the choice of target should be clearly defined.When purchasing,we should choose reasonable payment method to prevent risks and pay attention to the optimization and integration after merger and acquisition.