<p>Business has seen tremendous growth through internationalization over the last several decades.  As  one  of  the  strategies  for  companies  to  internationalize,  acquisition  has since then been a well-studied subject. Various steps have to be gone through in order to  acquire  a  company.  Afterwards,  companies  need  to  take  different  measures  to ensure  the  success  of  the  acquisition.  Culture  is  usually  considered  as  the  most important  aspect  which  determines  post-acquisition  success.  The  purpose  of  this master dissertation is to thus investigate company’s internationalization via acquisition regarding    the    pre-acquisition    decision-making    and    post-acquisition    cultural management. The  theoretical  framework  consists  of  literature  of  pre-acquisition  decision-making process and post-acquisition culture management. These theories are put together in an analytical  model  where  possible  connections  are  intended  to  achieve.  It  will  also  be used as a foundation in gathering and analyzing the empirical data.   In  a  qualitative  approach,  the  empirical  data  was  gathered  through  semi-structured interview with the president of Getinge International Group. These findings were also complemented with secondary data such as corporate websites, documents and various scientific articles. The findings of the study show that planning, evaluating, negotiating, making the deal and    integration    are    the    five    essential    steps    concerning    the    process    of internationalization  through  acquisition.  The  authors  find  out  that  identifying  of acquisition  candidates  is  not  necessarily  a  part  of  pre-acquisition  as  the  theory  may suggest.  The  distinction  between  bolt-on  and  platform  acquisition  is  of  critical importance to determine the different criteria and procedure certain company is going to take. This proves to be much more practical, where theoretical support has not been fully established. Both national and corporate cultures are of crucial importance for the success of company’s post-acquisition culture management. According to the finding of this research, two factors seem to link pre and post acquisition process; one is the planning of how future organization is managed; the other is the appropriate choice of managing director.</p>

Business has seen tremendous growth through internationalization over the last several decades.  As  one  of  the  strategies  for  companies  to  internationalize,  acquisition  has since then been a well-studied subject. Various steps have to be gone through in order to  acquire  a  company.  Afterwards,  companies  need  to  take  different  measures  to ensure  the  success  of  the  acquisition.  Culture  is  usually  considered  as  the  most important  aspect  which  determines  post-acquisition  success.  The  purpose  of  this master dissertation is to thus investigate company’s internationalization via acquisition regarding    the    pre-acquisition    decision-making    and    post-acquisition    cultural management. The  theoretical  framework  consists  of  literature  of  pre-acquisition  decision-making process and post-acquisition culture management. These theories are put together in an analytical  model  where  possible  connections  are  intended  to  achieve.  It  will  also  be used as a foundation in gathering and analyzing the empirical data.   In  a  qualitative  approach,  the  empirical  data  was  gathered  through  semi-structured interview with the president of Getinge International Group. These findings were also complemented with secondary data such as corporate websites, documents and various scientific articles. The findings of the study show that planning, evaluating, negotiating, making the deal and    integration    are    the    five    essential    steps    concerning    the    process    of internationalization  through  acquisition.  The  authors  find  out  that  identifying  of acquisition  candidates  is  not  necessarily  a  part  of  pre-acquisition  as  the  theory  may suggest.  The  distinction  between  bolt-on  and  platform  acquisition  is  of  critical importance to determine the different criteria and procedure certain company is going to take. This proves to be much more practical, where theoretical support has not been fully established. Both national and corporate cultures are of crucial importance for the success of company’s post-acquisition culture management. According to the finding of this research, two factors seem to link pre and post acquisition process; one is the planning of how future organization is managed; the other is the appropriate choice of managing director.

The thesis focuses on entrance of a strategic investor into the foreign market through a mergers or acquisitions. The main aim of the paper is to show the process of pre-acquisition analysis. First, a brief description of a mergers and acquisitions problematic will be provided as well as the acquisition process itself. Within the pre-acquisition analysis there are discussed different factors which play an important role in evaluating of the target market as well as in the selection of an acquisition candidate. Next, the thesis provides an evaluation of the target company, particulary a description of various tools and methods used in evaluating the financial aspects of a company. The goal of the practical part is to assess the target market selected by the investor, to illustrate the procedure for collecting a suitable candidate and then the accomplishment of a financial analysis of the company.