Success and Failure in Technology Acquisitions: Lessons for Buyers and Sellers
回顾了技术收购的研究，分析了买卖双方的动机、独特挑战及提升绩效的方法，并提出了未来研究议程，重点关注跨境交易和行业竞争动态。
Executive Overview Technology acquisitions can benefit firms by providing valuable resources, increasing market power, and initiating strategic renewal. Yet despite these opportunities, technology acquisitions often present a significant challenge for both buyers and sellers. In this article, we review the research on technology acquisitions and outline what is known and what remains to be studied. First, we examine firms' motivations for engaging in technology acquisitions. Second, we explore the features and challenges that make technology acquisitions unique. Third, we summarize the research on how both buyers and sellers can improve the performance of technology acquisitions. Fourth, we propose a research agenda to address unanswered questions and emerging issues related to technology acquisitions, placing particular emphasis on cross-border deals and the effects of acquisition activity on an industry's competitive dynamics.