During my 35+ years in information and process management, I have seen many companies merge, acquire others, or be acquired themselves. Typically there are statements along the lines of business will carry on as usual, and we will focus on bringing the best of the two organizations together. So once the paperwork, financials, and other paperwork is complete, what happens next?
All too many times, I have seen total disconnects between the organizations. Management changes, cultures differ, product integration is not as simple as expected, and more. My point is, mergers and acquisitions require more than financial agreements and a handover to new owners.
People, processes, cultures, and products must be assimilated and integrated in ways both organizations truly can complement each other and deliver stronger products, enhance customer satisfaction, and provide an employee environment that is enriching and promising for the employees.
In My View
While due diligence is a key factor in any merger or acquisition, the real work begins once the deal is done. This requires a change management plan coordinated with teams from both organizations to ensure a smooth transition, retention of skilled, valuable employees and their knowledge, and ensures customers will not flock away in fear their investments in your products and services will be jeopardized.
As part of your transition, solicit involvement from the employee base, to become part of the transition team. Seek input from customers regarding how the newly formed company can better service them. When trying to integrate your products and services, seek to find real solutions that can be incorporated in the short term, while developing and building the products of the future.