The Study On The Value Effect Of Premium Based On MIG Unmobi Technology And Jinyuan Technology

With the continuous advancement of cultural reforms and the rapid renewal of Internet technology,China's Internet industry has opened a new chapter and entered a golden time of rapid development.Not only the traditional online games and the video industry are developing rapidly,the emerging industries such as mobile games and live broadcasting are also hot spots of market attention and hype.However,most companies in the Internet industry operate on “light assets”.The value of the company is mainly reflected in the intangible assets or even the original goodwill not recognized by the accounting firm,which results in the fact that the book value of the company is less than the actual value.As a result,the related mergers and acquisitions of the Internet industry have a common feature-a high premium.The research method adopted in this paper is a case study method.The sample of the high price of mergers and acquisitions in the Internet industry of Mingjia Group's joint acquisition of Jinyuan Interactive was used as a sample to observe the value effect of high premium mergers and acquisitions.First of all,based on the basis of mergers and acquisitions by both companies,and on the basis of combing the research results of the factors affecting merger premiums and corporate value,a theoretical analysis of the value mechanism of high-premium mergers and acquisitions of Internet companies was conducted;The basic situation of the case of the acquisition of Jinyuan Interactive will be compared with the average merger and acquisition premium of the same industry;finally,the financial data before and after the Mingjia joint merger and acquisition will be compared to analyze the high premium merger and acquisition on the wealth of shareholders and the financial performance of the company influences.This study finds that: First,the high price of Mingjia Group's joint acquisition of Jinyuan Interactive has created value.Through the analysis of its financial indicators,it is found that the financial performance of Ming Jia United after mergers and acquisitions has indeed improved.Second,the reason why high premium mergers and acquisitions can create value is because the identification of off-balance-sheet assets has enabled Mingjia to obtain valuable technical capabilities.The research conclusions of this paper provide a case presentation for the research on the value effect of the high premium M&A in the Internet industry,and it also has some enlightening significance for the investors in the industry.