A Case Study Of Company W's Innovation Development Through M&A

At present,there is a huge demand for the development of innovation in the society,but there is no unified understanding of how to archive effective innovation development in the existing enterprises.The M & A activities of Chinese enterprises in order to acquire innovation development are booming,while the existing theories lack in-depth analysis and explanation of this phenomenon.Therefore,it is very urgent and important to study how M & A can drive the development of innovation.Based on the review of the domestic and foreign research on M & A and innovation development,this paper analyzes how the M & A drives the innovation development of enterprises,and studies the typical case-the development of innovation capability driven by multiple M & A of company W from the perspective of dynamic capability,and finds three typical M & A events in different stages of development of company W.The innovation development of the company has gone through three stages: in the first stage,the second innovation ability is realized through M & A of company B,in the second stage,the integrated innovation ability is realized through M & A of Group K,and in the third stage,the original innovation is realized through M &A of subsidiary company Z.After deep analyze and summary by stages,the specific research conclusions drawn are as follows:(1)Enterprises can effectively use multiple mergers and acquisitions to complete the evolution of innovation ability path,cross the gap of technological innovation and realize the improvement of independent innovation ability.(2)Multiple mergers and acquisitions can produce positive financial effect and synergy effect,but the sustained positive effect depends on the effective integration ofM & a resources.(3)In order to develop innovation capability driven by M & A,enterprises should strengthen strategic objectives,step-by-step planning and active strategic deployment;adapt measures to local conditions,seize opportunities and choose innovation paths;acquire technology should digest endogenous,step by step,and strengthen accumulation and integration.To sum up,through the research on the evolution of innovation development path driven by M & A and restructuring of W company and the comprehensive performance analysis,this paper improves the relevant theories of M & A and innovation capability development to a certain extent,and provides the theoretical basis and practical guidance for enterprises hoping to obtain independent innovation creativity through M & A and restructuring activities.