Thousands of companies every year acquire other companies, or are
acquired themselves. This event is usually painful and messy--and
statistics show, it is frequently unsuccessful as well. Nearly half of
all mergers fail. Integrating acquisitions has traditionally been seen
as a series of
one-time tasks. This article argues that it should be viewed as a
manageable process that can be codified and improved over time. One
company that has made a fine art of the acquisition integration process
is GE Capital, which has integrated hundreds of companies in the past
decade. The
authors provide four critical lessons and a process framework for aiding
integration efforts.
Harvard Business Review, January-February 1998
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