| Summary: | 碩士 === 銘傳大學 === 管理學院高階經理碩士學程 === 100 === In order to expand the business operation and pursuit benefit from synergy the M&A has been growthing significantly in the past few years across the board, the post-merger integration and strategy implementation are the key elements to success. However studies have indicated some M&A cases are not only unsuccessful but also with a high failure rate, beside that some studies also have tried to understand the success factors of M&A but most of them focused on quantifying the abstract construct hypothesis analysis instead of in-depth analysis the success factors from implementation, specific implication and different industrial acquisition. Therefore the purpose of this study is using the 5 key success factors from “Determinants of International Acquisition Success” proposed by Ducan and Mtar in 2006 as the reference and S corporation as a case study to understand these 5 critical success factors and how they impact the performance of M&A.
The findings from these 5 critical success factors are as followings. (1) Acquiring Firm’s Previous Acquisition Experience – A clear process, a correct target identification & approach, an accurate valuation on acquired company and the knowledge codification from previous acquisition experiences are the keys to success. (2) Strategic Fit – 100% control the acquired company, maximum benefit from synergy and strategic growth with acquired company are the keys to success. (3) Focus On Core Business – fully aware of acquiring company’s core competencies, continuous develop and expand the core competencies, complementary fit from business are the keys to success. (4) Cultural Fit – culture is one of the primary factors of overall acquisition success and the keys to success are if the acquired company is able to fit in the culture of acquiring company and how this cultural fit brings the benefit to the new company. (5) Integration Process – fully integration, the higher the degree of business integration the greater the implementation of synergy opportunities will be and reverse integration is required when the core competency of acquired company is better than the acquiring company. There are the keys to success.
Based on these findings this study has followed up to put forward relevant proposals and theoretical implications which provided a clear information about how the S company success from M&A.
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