Navinfo Mergers And Acquisitions Of Outstanding Technological Performance Research

Under the background of our country's economic transformation,many enterprises begin to enter the weaker areas and industries on the basis of their main industries.Especially many manufacturing,software and information service industries begin to invest heavily in the field of chips in order to enhance their core competitiveness and disperse the risks of the original industries.Especially after the United States has repeatedly embargoed high-end chips from China and tried to curb the momentum of China's development with chip technology,more and more attention has been paid to the development of the independent chip industry in China.Many enterprises even treat the development of chip business as a very important strategy of the company.At present,there are two main forms for Chinese enterprises to develop chip business:self-research and acquisition.Compared with self-research and development with long investment cycle,acquiring a mature chip company in the open market can help enterprises quickly have a preliminary understanding of chip technology and market,and transform the original technology into their own competitive advantage.This is the time of money.Generation saves a lot of time and cost,so many enterprises take merger and acquisition as the preferred way to achieve chip strategy.However,because the domestic enterprises that make strategic M&A of chip companies usually do not belong to the related industries of chip,M&A often belongs to cross-industry M&A.The risk and integration effect of M&A are widely concerned by regulators and capital markets.In the past research,there is no uniform standard for the evaluation of the effectiveness of strategic mergers and acquisitions in academic circles.Therefore,on the basis of studying and combing the theory of strategic mergers and acquisitions,this paper analyses the development process and current situation of case enterprises,so as to study the motivation and risk of cross-industry strategic mergers and acquisitions of enterprises,and evaluate the performance of enterprises after strategic mergers and acquisitions through various methods,hoping that there will be Enterprises intending to achieve chip development strategy through mergers and acquisitions provide a reference for all sectors to evaluate the performance of cross-industry strategic mergers and acquisitions,so as to guide the capital market to treat and analyze cross-industry mergers and acquisitions rationally.Starting with the Navinfo,which invested nearly 4 billion yuan in the acquisition of prominent technology in 2016,this paper analyses the map industry in which the Navinfo is located and its motivation for merger and acquisition,studies the risks existing in the process and after merger and acquisition,and studies the integrated performance of merger and acquisition through event study,quantitative analysis,principal component analysis and qualitative analysis.Through the research,it is found that the synergy effect of M&A is gradually emerging,and M&A also effectively promotes the performance of enterprises,and has a positive effect on the operational efficiency of enterprises.However,due to the characteristics of both capital-intensive and technology-intensive industries in the chip industry,and the increasingly fierce competition at home and abroad,the uncertainty is brought about.Qualitative analysis and irrationality of transaction schemes still have some risks in future performance growth of Navinfo.It is necessary to strengthen the integration of chip business and original map business,and to increase investment and R&D efforts in future key technologies such as automatic driving and vehicle networking,in order to ensure the sustainability of growth.On the basis of case studies,this paper provides some suggestions for enterprises to develop chip business across industries,and provides references for enterprises in the process of strategic analysis,formulation and implementation.