Mergers and Acquisitions as a Strategy for Growth (MASG)

Firms frequently engage in acquisition programs to execute their strategy. Rather than executing isolated deals, systematic acquirers often execute streams of mutually interrelated acquisitions aimed at specific strategic targets. In many M&As, acquired firms are operating in foreign countries, which creates additional challenges for the successful M&A process. In this research project, we explore the role of cross-border M&As in executing the strategies for growth of firms operating in the high-technology field.

Research questions to be addressed are as follows. How do firms structure acquisition programs to better achieve strategy and growth objectives? How are M&As managed within an acquisition program? What country-specific conditions provide the most beneficial environment for technology acquirers to benefit from cross-border M&As? What value drivers do acquirers rely on in valuing targets in different market conditions?

The research project is carried out by a consortium comprising University of Oulu, Helsinki University of Technology, Elektrobit Oyj, Componenta Oyj and Wärtsilä Oyj Abp.