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How to solve the Integration-Autonomy dilemma in the acquisitions of technological start-ups? Analysis of two acquisitions: PeakMeUp/Efficy and Qustomer/ING

Emond, Robin
(2017)

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Details

Supervisors
Coeurderoy, Régis ; Lejeune, Christophe
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion
Abstract
$4.28 trillion: this is what companies spent worldwide in 2015 in Mergers and Acquisitions. Yet, between 50% and 90% of Mergers and Acquisitions fail to achieve their objectives. The post-acquisition integration phase deserves a specific interest because it is where value is actually created. Concerning that phase, academics have highlighted an important challenge that every acquirer faces: the Integration-Autonomy dilemma. Acquirers have to integrate the acquired start-up in order to create value using coordination mechanisms. However, they also have to give autonomy to the start-up to preserve its innovative capacity. In other words, they need to integrate and give autonomy at the same time, which seems to be antagonistic. This master thesis is built around the following central research question: How to solve the Integration-Autonomy dilemma in the acquisitions of technological start-ups? Two case studies are analysed. The first case is the acquisition of PeakMeUp (a gamification software) by Efficy (a customer relationship management). The second case study is the acquisition of Qustomer (a digital loyalty card), acquired by ING (a bank).