Research On M&A Integration And Synergy Of Optical Communication Enterprises

In the context of promoting the construction and development of 5G,data center,Industrial Internet and other projects proposed in the "14th Five Year Plan",mergers and acquisitions of optical communication enterprises have become the focus and hot spot.However,it is difficult for optical communication enterprises to promote the transformation and development of the entire optical communication enterprise through mergers and acquisitions,and poor results will also occur after mergers and acquisitions,mainly due to inadequate integration after mergers and acquisitions.Insufficient enterprise integration not only fails to achieve synergies after mergers and acquisitions,but also leads to a situation of "small dragging big",resulting in low integration efficiency and poor integration effect for most optical communication enterprises.It can be seen that completing the merger is only the first step,and the focus is still on the integration after the merger.Therefore,it is very important to study the merger and integration of optical communication enterprises and understand whether the expected results have been achieved after the merger and integration.This article mainly adopts the normative research method and case analysis method to summarize the content and path of optical communication enterprise mergers and acquisitions integration,and analyzes the integration effect from three aspects:management,operation,and finance.The introduction section introduces the research background and significance of this article;Research content and methods;Summarized relevant literature on mergers and acquisitions integration and synergies.In the relevant concepts and theoretical foundations section,the concepts of merger and acquisition integration and synergistic effects are introduced;Synergy theory and market power theory;In the section of ideas and framework,the business operations and characteristics of China’s optical communication enterprises were elaborated;The necessity of mergers and acquisitions and integration of optical communication enterprises;The goal,content,and path of mergers and acquisitions integration;Key factors affecting synergistic effects;Collaborative effect evaluation system.In the case analysis section,taking the merger of Zhongji Xuchuang and Chuhan Technology as an example,this study aims to explore the goals of Zhongji Xuchuang’s acquisition of Chuhan Technology,as well as the specific aspects around which integration will be carried out and how to carry out integration.This includes the content and path of seven aspects of strategy,technology,market,product,personnel,finance,and cultural integration.Finally,from three aspects,management synergy An analysis was conducted on the integration effect of business synergy and financial synergy.After research,it was found that after Zhongji Xuchuang acquired Chuhan Technology,through a series of integration measures,Zhongji Xuchuang’s asset management level and operational efficiency were improved,resulting in management synergy effects;Although the overall economic benefits and profitability have grown slowly,the product structure is more reasonable,and multiple research and development achievements have been achieved,basically achieving business synergy effects;The improvement of debt repayment ability,the increase in economic value added,and the rise in stock prices have resulted in financial synergies.Overall,it indicates that the integration of enterprise mergers and acquisitions has achieved the expected results.Finally,based on the analysis and summary of the case,corresponding suggestions are proposed for the merger and integration of optical communication enterprises,hoping to provide some reference for the sustainable and stable development of other optical communication enterprises in China.