When executed well, mergers and acquisitions can be a tactic for a firm to accomplish objectives such as increasing profitable market share, obtaining new technologies, entering new markets or gaining product or service diversification. Executed poorly, they can leave the firm no better off or even worse off than had they remained independent. It is well documented that mergers and acquisitions more often than not, fail to live up to expectations.

There are many facets to successful M&A activity such as selection of the right candidate, the right timing, the right price and the right cultural fit to name a few. Firms must develop a well thought out target selection process, an acquisition plan, a due diligence plan, a thorough integration plan, a timely integration process and a post merger/acquisition plan. Research in M&A activity suggests that best practices are difficult to follow and are often compromised leading to disenchantment and dissatisfaction.