Research On The Continuous Technology Merger And Acquisition Performance Of B-Soft Co.,Ltd.

Under the background of surging demand for social services and reform of medical and health undertakings,the medical and health information industry is in a period of rapid development.For medical and health informatization enterprises,R&D and innovation capabilities is the cornerstone of their stable development,which can bring more development opportunities for enterprises by expanding market share.Compared with the characteristics of long time,high cost and high risk of internal research and development,more and more enterprises absorb external resources through multiple technology mergers and acquisitions to effectively allocate internal and external resources,so as to improve the capability of R&D innovation,expand the business scope and promote the strategic layout of diversification.B-Soft Co.,Ltd.,a pioneering company that entered the medical and health informatization industry earlier and ranked top,has carried out multiple technology mergers and acquisitions from 2016 to 2018,aiming to share resources with the acquired enterprises through mergers and acquisitions,quickly seize the market and improve the core competitiveness of the enterprise.This company is selected as a case to study its M&A performance.It can be used as reference for other medical and health informatization enterprises.This paper firstly uses the literature research method to sort out the relevant literature of technology M&A and M&A performance,and defines the concepts of continuous technology M&A and M&A performance.Then,based on the academic research on the motivation of technology M&A and the resource-based theory,dynamic capability theory and synergy theory,the formation path of enterprises’continuous technology M&A performance is analyzed.Then it introduces the industry background and the development of B-Soft Co.,Ltd.,sorts out the process of B-Soft Co.,Ltd.’s continuous technology M&A and analyzes its M&A motivations.Further,using the methods of event study and financial index analysis,based on the financial data and non-financial data of B-Soft Co.,Ltd.and comparable companies Winning Health Technology Group Co.,Ltd.and Wonders Information Co.,Ltd.,the market performance,innovation performance and financial performance of B-Soft Co.,Ltd.’s continuous technology M&A are analyzed.It is found that the motivation of B-Soft Co.,Ltd.’s continuous technology M&A is diversified,which.is influenced by national policies,corporate strategies,external resources and synergies.In the short term,investors are not optimistic about the technology M&A activities of enterprises,and the market performance of B-Soft Co.,Ltd.’s technology M&A is not impressive.However,in the long run,BSoft Co.,Ltd.’s R&D and innovation ability has been continuously enhanced,and innovation input and output have shown an obvious upward trend,and innovation performance has been improved to some extent.After continuous technology mergers and acquisitions,the profitability,debt paying ability and growth ability of innovation B-Soft Co.,Ltd.keep rising,while the operating ability needs to be strengthened.Overall,the financial performance has been significantly improved.To sum up,although the short-term M&A performance of B-Soft Co.,Ltd.’s continuous technology M&A is not impressive,the long-term M&A performance is good.The study of this paper can enrich the case study of continuous technology M&A and provide reference for enterprises in the same industry to carry out continuous technology M&A.