Research On Company M&A Based On Knowledge Resource Integration

From 1990's, as a form of managerial creation, company's M&A has been growing with unprecedented speed and scale in global wide. As the merge of fifth M&A, its growing speed is largely overwhelmed the counterpart of world direct investment. Under this background, Chinese companies need to grasp the development opportunities of this age if they want to carry out M&A strategy successfully. In knowledge economic age, the purposes of M&A are no longer purchasing scale economy or reducing cost, but gaining external knowledge resources, intergrating knowledge and upgrading core competitive ability. In other words, only if companies pay more attention to the cultivation and development of knowledge resource, respond to market change in quicker speed, and participate in competition with new attitude could they gain advantages in competitions.Since knowledge is a brand new study field which needs further extension, knowledge resource integration study in M&A field is much more less. On reviewing large number of relevant papers, and thinking of the core content of M&A and knowledge, the author has integrated the research theories of M&A motivation and company competitive advantage; analyzed the relevant characters and choosing conditions of company internal development view,M&A development view and alliance development view; raised the integration model of knowledge value chain in strategic M&A; analyzed the possible conflicts on the way of integration; At last, the author put knowledge resource integration point of view into the case study of Levono acquiring IBM PC: analyzing M&A purpose by knowledge dimensions, integration process by knowledge resource, and introducing Entropy Weight and Fuzzy Comprehensive method to evaluate those detailed index on the base of knowledge categories, so that we can make some practical significance to our domestic companies.