Research On Performance Of Boton Technology Cross-border M&a Efun

With the continuous deepening of the supply-side structural reforms in China,the development of traditional enterprises with overcapacity is facing challenges.Many listed companies in traditional industries have transformed their businesses through cross-border mergers and acquisitions.However,the cross-border M&A industry has a large span,and it is often accompanied by risks such as excessive premiums,high performance commitments that are difficult to fulfill,and high reputation.Once the target company does not perform well,the listed company will face huge losses such as goodwill impairment.Therefore,this article takes Boton Technology's cross-border merger and acquisition Efun as an example to explore its implementation path to improve cross-border merger and acquisition performance,and evaluate whether this implementation path can effectively improve corporate performance,with a view to providing suggestions and reference for traditional enterprises to effectively improve the performance of cross-border mergers and acquisitions.First of all,analyzes the necessity and feasibility of Boton Technology's cross-border M&A from the external environment to the internal environment by combining industry life cycle theory,slack resources theory and diversified strategy theory.Then dig deep into the specific implementation path of Boton Technology to improve cross-border M&A performance,and evaluate short-term and long-term M&A performance with event research and financial indicator analysis.The research shows that the implementation path of Boton Technology to improve cross-border M&A performance is: First,fully consider the industry life cycle,and shift the main business to the mobile online game industry that is in the growth stage and has a good prospects.Second,accumulate abundant slack resources,and make full use of slack resources to cross-border mergers and acquisitions,not only to facilitate the successful completion of mergers and acquisitions transactions,but also to ensure the company's daily cash flow required for operations.Third,effective integration between the two companies after the merger and acquisition,for example,theintegration of corporate cultures;actively adjust the organizational structure by incorporating the executives of Efun into the board of Boton Technology,to provide the company with strategic guidance in the field of mobile online games;integrate human resources and continue to use the excellent game operation team of Efun.Fourth,strengthen strategic investment,with horizontal global layout,vertical development and operation integration,to enhance core competitiveness.Through the calculation,the cumulative excess rate of return during the window period reached70%,indicating that the performance of short-term mergers and acquisitions has improved significantly.The analysis of financial data shows that after the merger and acquisition,Boton Technology's industrial structure has been optimized,while new business has brought significant revenue and profits,it has also improved operating cash flow.The integration of resources between enterprises has fully exerted its effectiveness,the overall operating efficiency has been effectively improved,and performance gambling has been successfully completed,indicating that the performance of long-term mergers and acquisitions has also been improved.The article innovatively analyzes the implementation path to improve the performance of cross-border mergers and acquisitions,making the research results more targeted and reference value,and at the same time draws important inspirations for traditional companies to improve the performance of cross-border mergers and acquisitions.First,consider the development prospects and choose the target company in the growing industry;second,the long-term strategic planning should match its own strength,and should not over-invest or blindly invest;third,the effective integration of the two companies after the merger and acquisition to enhance the effect.