When do acquirers invest in the R&D assets of acquired science-based firms in cross-border acquisitions? the role of technology and capabilities similarity and complementarity

Marcela Miozzo, Lori DiVito, Panos Desyllas

Research output: Contribution to journalArticleAcademicpeer-review

11 Citations (Scopus)
118 Downloads (Pure)

Abstract

Drawing on a multiple case study of acquisitions of UK biopharmaceutical firms, we develop an analytical framework that elucidates how key determinants of the knowledge base of science-based firms and their combinations through M&As interact and affect post-acquisition investment in the target's R&D projects. We show that two factors - the complementarity/similarity of the technology, and the complementarity/similarity of the discovery and development capabilities of the target and acquiring firm - interact to produce different outcomes in terms of investment in the acquired firm's R&D assets and for the local science and technology system.

Original languageEnglish
Pages (from-to)221-240
Number of pages20
JournalLong range planning
Volume49
Issue number2
DOIs
Publication statusPublished - Apr 2016

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