• Journal of Information Technology Applications and Management
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• 제19권3호
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• pp.49-68
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• 2012

M&A (Merger and Acquisitions) is a standard corporate strategy frequently used by companies seeking to secure new growth engines and gain a solid foothold in their markets in order to become more globally competitive. To achieve the original goals of M&A, the two involved parties need to invest significant time and resources in integrating all aspects of the companies. A well-planned post-merger integration of information technology (IT PMI) by the two M&A parties is considered a crucial and difficult process because IT provides a fundamental infrastructure for integration. Considering various internal and external factors, the two parties normally formulate an IT PMI strategy. The many IT PMI strategies can be categorized into four major types: Renewal, Takeover, Standardization, and Synchronization. This study aims to develop a decision making model to help merger company and IT managers select the proper IT PMI strategy. More specifically, we identify key determinants that need to be considered when selecting a proper IT PMI strategy. The relative importance of each determinant is defined by analytic hierarchy process (AHP) analysis. Finally, this study evaluates each IT integration strategy under the identified determinants.

• 한국IT서비스학회지
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• 제10권4호
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• pp.67-81
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• 2011

Recently, Mergers and Acquisitions (M&A) have become increasingly popular in the last few decades, and overseas' M&A are particularly increasing to sharpen corporate competitiveness on a global scale. Previous studies showed that one of the main reasons attributes to failures of mergers was the lack of attention to merging information systems. In recent years, both academy and industry have more focused on Post-Merger Integration (PMI) and the integration of information systems (IS) between two companies is one of the critical success factors of corporate. This paper focused on Post-Merger IT (Information Technology) Integration Methodology of Cross-Border M&A. We followed a single-site qualitative case study method in order to investigate the type of phenomenon in M&A's natural setting. Moreover, we examined a typical energy and power company case in order-based industry, so that other industry players may have different results to determine post-merger IT integration method and scope.

• 지식경영연구
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• 제9권1호
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• pp.97-116
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• 2008

The purpose of this study lies in examining how knowledge management was applied to PMI(Post Merger Integration) in bank merger. Individuals and organizations in Korea have experienced a lot of changes since the 1997 foreign exchange crisis. In such a situation, individuals came to think the only thing to rely on was personal knowledge. Since organizations had to lay off workers in order of their birth year, not based on whether or not individuals had the knowledge necessary for the organizations, they needed to have such a system that could use their explicit knowledge and even outside knowledge or customers' knowledge as IT developed by changing individuals' tacit knowledge into explicit knowledge as needed in order to continue to maintain their competitiveness and for their own development. Thus, each firm started to pitch for the introduction of knowledge management. Individuals started to store their own experience and knowledge in their homepages or blogs. It was Woori Bank, the merged bank of Hanil Bank and Commercial Bank of Korea, that introduced the knowledge management system and Shared Service Center, in which knowledge creation is available, for the first time in the banking business. Its previous name was Hanbit Bank. Hanbit Bank wanted to construct an advanced bank system, bringing in their chief information officer(CIO) from a foreign bank and introducing an IT software used in Spanish banks to adjust all banking processes to it. However, they could not help giving up the plan in the middle of the road since there was a great difference between Spain and Korea in the financial system and more than 30% of software package had to be changed. In this situation, PMI was delayed, and customer inconvenience continued, which made the integration of organizational cultures slow down. As a breakthrough in this situation, knowledge management was introduced. To integrate knowledge of two organizations in the process of PMI is an important job for all merger candidates. This study aims at presenting the successful results from using knowledge management as a means to PMI ahead of other financial institutions so they can apply them to their organizations. PMI was not achieved properly after the two banks had been merged as Hanbit, but entering the era of Woori Bank, workers were integrated under one standard organization following the organizational and knowledge integration, and knowledge management was introduced for an efficient sharing of knowledge among members. A great number of mergers have occurred up to now, but Woori Bank is the first case that used knowledge management as a means to both PMI and competitiveness enhancement. Probably it was an appropriate time when Woori Bank introduced knowledge management as it was organized. Since Hanil Bank and Commercial Bank of Korea had not introduced knowledge management until then, it could use knowledge management as a means to PMI. Using knowledge management, it could create a new organizational culture and increase competitiveness in the banking industry.

• 토지주택연구
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• 제2권4호
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• pp.315-324
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• 2011

In the merged organization, the efforts of integration such as various PMI activities, etc. are exerted and the performance of PMI can be judged by evaluating the effectiveness of an organization. In this paper, the empirical analysis was conducted to see what effects of 'planned PMI activities' and 'voluntary integration efforts' have on the effectiveness of an organization which is 'Organizational Commitment', 'Job Satisfaction', 'Emotional Integration' and 'Shared Value Recognition'. The survey was made on the employees of LH, which is a representative case of public corporation advancement, and SPSS 17.0 and AMOS 17 were used for the analysis. As a result of the analysis of a structural equation model, it indicated that both 'planned PMI activities' and 'voluntary integration efforts' have direct influence on 4 indices of effectiveness of an organization respectively. In particular, it was found that 'planned PMI activities' affects 'Shared Value Recognition' the most and 'voluntary integration efforts' has the largest effect on 'Emotional Integration'. Through this study, it was verified that voluntary integration efforts of members as well as the planed formal PMI activities are also very important factor of effect on the integration performance of an organization.

• 벤처혁신연구
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• 제6권4호
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• pp.113-131
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• 2023

인수합병 후 통합(post-merger integration; PMI)이 M&A 성공에 있어 매우 중요한 역할을 담당하고 있다. 따라서 본 연구는 PMI에 대한 선행 연구들을 바탕으로 PMI 과정에서 피인수기업 구성원에 대한 의사소통과 '인식된 불확실성 감소', '조직만족도' 그리고 '조직신뢰' 간의 관계를 살펴보고 인수기업과 피인수기업 간의 '사업영역의 일치도'의 조절 효과를 중심으로 조사하고자 한다. 본 연구는 연구목적을 달성하기 위하여 각 변수 간의 관계에 대한 가설을 설정하고 실증분석을 진행하였다. 자료는 중국 내에 인수 기업에서 근무하는 피인수기업의 구성원을 대상으로 설문조사를 실시하여 최종 317개 설문지를 수집하였고 실증분석을 실시하였다. 연구 결과, 의사소통은 피인수기업 구성원들이 인식한 불확실성 감소, 직무만족도 그리고 조직신뢰에 긍정적인 영향을 미친다는 것과 인수기업과 피인수기업 간의 사업영역의 일치도는 의사소통과 '인식된 불확실성' 간의 관계를 약화시킨다는 것을 확인하였다. 의사소통과 직무만족도 및 조직신뢰 간의 긍정적인 관계에서 조절변수가 강화시키는 효과가 확인되지 않고, 오히려 약화시키는 조절효과를 밝혀냈다. 이러한 연구 결과를 토대로 본 연구는 PMI 과정에서 피인수기업 구성원들과의 의사소통 전략은 통합의 성패에 의미를 가지며, M&A 유형에 따른 차별화된 인적자원관리 방안에 대한 제시와 같은 실무적인 시사점을 제시하였다.

• 벤처다이제스트
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• 제2호통권127호
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• pp.34-35
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• 2009

M&A 과정을 크게 둘로 구분하다면 하나는 M&A 계약 자체의 성사에 이르는 '딜메이킹(Deal Making)' 과정과 다른 하나는 'PMI(Post-Merger Integration)', 즉 인수 후 통합과정이다. 많은 기업들이 성공적인 M&A를 위해 기업가치평가, 실사, 계약서 등에 명시돼야 할 권리 및 의무관계, 인수가격 결정을 위한 협상 등에 온 힘을 기울이게 된다. 하니만 인수 합병을 단행한다고 해서 모든 기업이 주주가치 창출이나 경쟁력 향상과 같은 시너지 효과를 누리지는 못한다. 인수 합병 후에 일어나는 통합의 문제는 그 복잡합이나 조직에 미치는 영향력에 있어 더 많은 주의와 노력을 요한다.

• 유통과학연구
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• 제13권10호
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• pp.65-72
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• 2015

Purpose - A rapidly changing business environment places great demands on small and medium-sized enterprises (SMEs). These SMEs need to find strategic alternatives for continued growth and, ultimately, survival. Thus, mergers and acquisitions (M&A) are deemed an acceptable solution. Research to date has dealt with M&A in major organizations and focused on post merger integration (PMI). Our study focuses on SMEs, as they are relatively new and unknown to the public. Therefore, this study highlights successful M&A and decision making for SMEs through a case study analysis. Research design, data, and methodology - For this study, we examined an M&A case between company S, which produces cell phone parts, and company P, which produces SSD cases. We reviewed theories and previous studies in M&A literature. We comprehensively examined the decision-making procedure at each M&A stage, describing the situation of the buying company and the selling company from the period of the M&A announcement through deal completion. In addition, we conducted interviews with both companies. The data regarding this case study were collected through interviews with managers of both companies who actively participated in the M&A process. When necessary, we asked them about additional relevant information during the interviews. Results - The result of the M&A between company S and company P was deemed acceptable with the exception of the long negotiation period. However, company S was not able to prepare for PMI after the acquisition due to a controversy over acquisition values. Moreover, the employees of the newly formed company, especially those who came from company P, complained about the M&A and attempted to leave. Thus, implications for successful M&As of SMEs are as follows: First, the procedural compliance of the M&A is needed. Second, support is needed from the CEO for the working group, rather than excessive intervention during due diligence. Third, the right, talented members of the organization should be part of the process of the M&A. Fourth, the use of various types of outside expert or business consultants is needed. Fifth, the strategic intervention by Human Resource managers is required. Last, sharing M&A information among employees is important as information dissemination will help employees be more receptive to such a change. However, this study has several limitations as a single case study; more varied SME M&A case studies are needed in order to generalize the results of the study. Conclusions - Most of the research dealing with M&As has focused on major companies and PMI and neglected SMEs. Thus, our study focuses on SMEs and the decision-making procedures for M&A. This study has significantly contributed to the literature in this area and has provided practical information around the implications of sound decision-making during M&As. Specifically, the results of the study contribute to the need for research on M&A among SMEs, which to date has often been neglected as a topic of choice.