A Study On The Motivation And Performance Of IFLYtek’s Acquisition Of Lezhixing

With the rapid development of the “Internet plus”economy,the artificial intelligence(AI)industry has also risen rapidly.In the current highly informationized social environment,Education informatization has become a major development trend,especially since the COVID-19 outbreak in early 2020,online classroom has become the main learning mode,and education informatization has become an important field in the development of the current Internet industry.In addition,the country has issued relevant policies in recent years to support the development of the AI industry,and social expectations for it are also getting higher.However,the competition in the industry is still very fierce,so it is an inevitable trend for AI enterprises to adopt the way of M&A to improve their competitiveness.Therefore,in recent years,Chinese AI companies have achieved extensive expansion through mergers and acquisitions(M&A)in the same industry,thus increasing market share and improving market competitiveness.Based on the current social and economic background and industry environment,this paper selects IFLYTEK’s acquisition of Le Zhixing in the artificial intelligence industry as the research object.First of all,by referring to the relevant literature of M&A,the motivation and performance of this paper are sorted out,and the concepts related to M&A,motivation related theories,performance evaluation methods and the whole process of M&A are described in detail.Secondly,combined with the internal and external factors,the motivation of M&A is analyzed comprehensively.On the basis of the motivation analysis,the author uses the event study method,the financial index analysis method and the non-financial index analysis method to conduct in-depth research and analysis on the short-term and long-term performance of the merger and acquisition,focusing on the performance changes after the merger and acquisition.Finally,through the in-depth study of the above content,the relevant conclusions are drawn.The conclusion shows that the external motivation of IFLYtek’s merger and acquisition is mainly influenced by national policies and fierce competition in the industry,As for the research conclusion of the performance of the merger,in general,the merger has improved the core competitiveness of IFlytek,and various financial indicators have changed significantly after the merger.At the same time,it improves its market share in the intelligent education information market,accelerates the integration of resources and improves its industrial layout.Finally,in the process of its analysis,we find that m&a is a long-term process,and its results will be affected by many factors.Therefore,on the basis of following national laws and regulations,enterprises should adapt to changes in national policies,accurately and comprehensively identify target enterprises before M&A,choose appropriate financing and payment methods during M&A,and pay attention to the optimization and integration of resources after M&A.