Research On The Synergistic Effect Of Ping An’s Acquisition Of Autohome

With the advancement of the overall strategy such as "Internet +",the transformation and upgrading of traditional industries and industrial synergy have become the main theme.In China,the competition among domestic enterprises is quite fierce,and enterprises are facing more severe challenges and survival pressure.In order to enhance the comprehensive ability of enterprises,many enterprises chooses mergers and acquisitions,a low-cost and high-efficiency mean.Companies have built their own auto finance ecosystem due to the relatively good market prospects of Internet auto finance.China Ping An Insurance（Group）Co.,Ltd.,one of China insurance giants,acquired a 47.4% stake of Autohome for US$1.6 billion in2016.China Ping An’s acquisition of Autohome means that the former has officially entered the Internet car industry.Whether it can form a good synergy after the merger and integration has become the focus of the Internet auto finance industry.In this paper,the case object of this research is China Ping An M＆A Autohome.Firstly,this paper expounds the research background and significance of the research case,summarizes the previous research results,and defines the concept of enterprise mergers and acquisitions on the previous research results.Synergy Theory,Market Power Theory and Diversification Theory are expounded as the theoretical basis of this research.Then,this paper investigates the current status of the Internet auto finance industry,analyzes the reasons for Ping An’s merger and acquisition of Autohome,and elaborates the merger and acquisition process and integration measures.On this basis,combined with the evaluation method of "financial indicators+ non-financial indicators",this paper comprehensively and systematically analyzes the management synergy,operational synergy,financial synergy and technical synergy of Ping An’s acquisition of Autohome.Finally,this paper analyzes the significance of synergy after the merger.The conclusion shows that the purpose of Ping An’s acquisition of Autohome is achieving synergies and improving the level of Internet auto financial services.Ping An and Autohome have achieved good synergies in management synergy,sales synergy,financial synergy,market synergy and technology synergy by replacing the management team and deploying new development strategies after the acquisition.China Ping An M＆A Autohome is a successful case.The research results obtained in this paper can provide reference for the management of related enterprises.