Mergers between small institutions have greatly increased in a short period of time in order to help them become larger and stronger. The purpose of this thesis  is to explore the main motivations behind mergers or alliances between universities, advantages and the possible challenges which they may face in forming these alliances. The research is characterized by the exploratory, descriptive and qualitative approaches. The information in this paper was gathered by a survey (questionnaire) as a primary data and scientific articles as a secondary data. The research shows that there are many elements which the merged institutions have to take in their consideration not just the benefits that they will gain because not conceding them will lead to fail or non-satisfaction to both partners.