Purpose

This study aims to contribute with an extended framework on synergy realisation in acquisitions. The study conceptualises synergy realisation after acquisitions, in interaction with other companies in a business network and that synergy can be the result of both intended and not intended actions.

Design/methodology/approach

The study is based on a company involved in acquisitions, being both the acquirer and the acquired. The data for analysis were collected through semi-structured interviews with managers involved in the described acquisition processes. The semi-structured interviews were guided by overarching themes to cover relevant areas of the described acquisitions.

Findings

This study develops a framework in which synergy is used as a concept in business networks. The framework offers a more dynamic perspective on acquisition processes and extends the view of acquisition performance beyond more financial and company internal aspects of acquisition processes. Further, the findings show that related companies such as customers and suppliers, play important roles in synergy realisation.

Practical implications

From a managerial perspective, the study shows the importance of understanding the underlying forces of integration processes.

Originality/value

The concept of synergy used in this study not only includes the companies integrated in an acquisition but also their business networks. Including the integrated companies and their business networks provides a more dynamic perspective from which to plan and realise synergy.

中文翻译：

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探索和扩展协同概念–对三项并购的研究

目的

这项研究旨在为并购中实现协同增效的扩展框架做出贡献。该研究将并购后与业务网络中其他公司的互动实现了协同作用概念化，并且协同作用既可以是有意行动也可以是无意行动的结果。

设计/方法/方法

该研究基于一家参与收购的公司，既是收购方又是被收购方。用于分析的数据是通过与所描述的收购过程中所涉及的经理进行半结构化访谈而收集的。半结构化访谈以总体主题为指导，涵盖了所描述的收购的相关领域。

发现

这项研究建立了一个框架，在该框架中，协同作用被用作业务网络中的一个概念。该框架为收购流程提供了更动态的视角，并将收购绩效的视野扩展到了收购流程的更多财务和公司内部方面。此外，研究结果表明，相关公司（如客户和供应商）在实现协同增效中起着重要作用。

实际影响

从管理的角度来看，该研究表明了理解整合过程的潜在力量的重要性。

创意/价值

本研究中使用的协同作用概念不仅包括并购中的公司，还包括其业务网络。包括集成公司及其业务网络在内，可以提供更动态的视角来计划和实现协同作用。