Research On Technology Integration Of Chinese Enterprises' Cross-border Mergers And Acquisitions

With the improvement of commercial strength and comprehensive capacity for China's multinational corporations, increasing number of companies will go abroad to obtain critical technical capacity by mergers and acquisitions(M&A) of foreign companies or assets. However, in the practices the enterprises often acquire the technical without understanding their initial technology-seeking motives, which resulted in inefficient technology integration, even lead to the failure of M&A. Therefore this paper focused on the special nature of technology integration for Chinese enterprises cross-border M&A, trying to offer some references benefited for Chinese corporations.The paper firstly disserted the concept, meaning and impact factor of technology integration of enterprise cross-border M&A, and analyzed the technology-seeking motives in transnational M&A. Then this paper conceived a systematic and complete framework for technology integration of Chinese enterprises cross-border M&A, which added nine stages into the three major stages such as technology selection, technology transfer and technical reconstruction and be used to analyze the problems for each technology integration stage in the practice work.The paper established decision-making model for technology integration work of Chinese enterprises transnational M&A, which based on the three different technology-seeking motives and three different technology -integration stages. This paper summarized the different strategies according to the different conditions. And the conclusion is verified through the technology M&A cases of typical manufacturing enterprises. Finally the paper tried to give concrete solutions for the problems that encountered in practice, such as the patent analysis, technical staff integration and technology integration group mode selected in the process of technology integration.To study the Chinese enterprises cross-border M&A form the perspective of technology-seeking motives is a somewhat new area. It is undoubtedly have positive significance for some Chinese enterprises, which acquired the technology through the cross-border M&A.