Research On The Tianze Information Merger And Acquisition Of Youkeshu

In recent years,cross-border e-commerce has gradually become an important driving force for the transformation and upgrading of traditional trade.Due to its rapid development,the industry continues to integrate resources,and listed companies also quickly enter the cross-border e-commerce field through mergers and acquisitions to share policy dividends.However,the industry is changing,competition continues to intensify,cross-border ecommerce mergers and acquisitions have a high failure rate,and many enterprises have exposed serious problems of acclimatization.In order to improve the success rate of mergers and acquisitions,it is urgent to study cross-border e-commerce mergers and acquisitions.Tianze information’s mergers and acquisitions have caught up with the trend of cross-border e-commerce mergers and acquisitions.Later,the actual controller changed,and there is a tree who is mainly in charge of listed companies,becoming a classic case in the cross-border ecommerce industry.Tianze Information M&A has caught up with the trend of cross-border e-commerce M&A,followed by the change of controller,and has become a classic case of cross-border e-commerce industry.Its M&A process and results have certain analytical value.This paper takes the case study method as the main method to carry out in-depth analysis of the M&A case.First,it describes the research background and significance of the case,summarizes the relevant research literature at home and abroad,as well as the concept and relevant theories of enterprise M&A,and lays a theoretical foundation for specific case studies;Secondly,it introduces the general situation of both sides of the merger and acquisition,expounds the background,motivation and process of the case,and points out that the merger and acquisition effect is not ideal;Thirdly,combined with the key links of M&A,it explores the specific reasons that affect the effectiveness,analyzes them in the order of target selection,valuation and consideration,performance commitment and integration,and verifies them according to the performance of the enterprise;Finally,the corresponding enlightenment and conclusions are summarized according to the analysis.The short-term performance of the M&A case is obviously different from the long-term performance.In the short term,various financial indicators have improved significantly,but the company’s share price has fallen,the short-term benefits brought by the M&A have disappeared rapidly,and the long-term performance level has declined.Through research,it is found that the improvement of short-term financial indicators is mainly related to the selection of M&A targets.A tree has brought high-quality development resources to Tianze Information,but there are certain mistakes in the company’s valuation and consideration arrangements during the M&A,which has triggered concern among market investors and had a negative impact on the company’s share price.The main reason for the unsatisfactory longterm performance is that the M&A made great mistakes in performance commitment and M&A integration.Due to improper operation of key links in the M&A process,the subsequent integration was not favorable,so the long-term performance could not be really improved.Although the effect of the M&A is not good and there are shortcomings in the process of M&A,through analyzing and summing up the M&A experience and lessons of Tianze Information,this paper draws the following inspiration: in the implementation of extension M&A,we should first identify the advantages of the target enterprises,and need to select high-quality targets in combination with market characteristics and industry prospects;To reasonably evaluate the enterprise value to resist pricing risks,appropriate valuation methods should be selected and compared with comparable cases to reasonably control the cost of M&A;We should choose the most favorable payment strategy for subsequent development,and flexibly choose the payment method according to our own capital strength and equity preference to avoid integration risks;Appropriate performance targets should be set to control the risk of gambling,and performance commitment clauses should be rationally and rationally used;We should also pay full attention to the integration work to produce longterm synergy and improve the integration efficiency.