Research On Risk Identification Of Overseas M&A Of Chinese Science And Technology Enterprises

In the context of global economic integration,overseas mergers and acquisitions have become one of the effective ways for companies to move to the world stage and move towards internationalization to achieve longer and further development.Nowadays,technology has penetrated into every aspect of people's daily life.In this age full of technology,both the national level,the corporate level and individuals have long realized the importance of technology.Technological innovation has become an important indicator of the core competitiveness of an enterprise or even a country.The state's emphasis on science and technology development and a series of encouragement and support policies have made a group of science and technology enterprises gradually develop and grow out of the country.In order to seize advanced technology faster,get the latest technological achievements and put them into use,and occupy technological advantages,many domestic technology companies have chosen the relatively direct and rapid way of overseas mergers and acquisitions.As a result,the overseas M & A activities of technology companies have become increasingly active.However,at the same time,because of their innovative,flexible,and technical characteristics,technology-based enterprises are more complicated in the process of mergers and acquisitions,and the environment they face is completely different from that in China,so they are more vulnerable to risks.In recent years,the United States and Europe have been tightening their foreign investment review policies,which has undoubtedly made the risks of technology-based companies' overseas mergers and acquisitions more uncertain.Therefore,it is even more important to identify risks in overseas mergers and acquisitions of technology-based enterprises and respond tothem in a timely manner.Based on understanding the current situation and motivations of Chinese technology-based enterprises 'overseas mergers and acquisitions,this paper uses a qualitative research method,selects 8 cases of technology-based enterprises' overseas mergers and acquisitions,extensively collects relevant information,and uses NVivo11 to encode the data layer by layer.The risk of M & A was identified,and the risk system of technology-based enterprises in overseas M & A was finally obtained.Then,the case of Kunlun Wanwei's merger and acquisition of Grindr was selected,and a detailed analysis was made from the background,motivations and risks of the merger and acquisition case.It can be concluded that Kunlun Wanwei faces political risk of security review,operational management risk and integration risk in this merger and acquisition.According to the risks found in the above case analysis,we propose targeted measures to deal with the risks,and provide some suggestions for the follow-up overseas M & A activities of technology-based enterprises,in order to minimize the risks faced by technology-based enterprises in overseas mergers and acquisitions.