Abstract
In research-intensive high-technology industries, it is often impossible for startup managers to build up internally all resources necessary for a successful company development. Hence, startups enter into strategic alliances with other companies or into mergers and acquisitions (M&As). Whereas alliances of startups are well studied in the literature, work on M&As mostly focuses on large corporations, but neglects deals between small entrepreneurial firms. In this exploratory study, we analyse six M&A cases of German biotechnology startups. We illustrate specific motives, benefits and problems associated with these deals. Our findings have implications for start-up managers and the future development of the German biotech industry.
| Original language | English |
|---|---|
| Pages (from-to) | 1-19 |
| Number of pages | 19 |
| Journal | International Journal of Biotechnology |
| Volume | 9 |
| Issue number | 1 |
| DOIs | |
| State | Published - 2007 |
| Externally published | Yes |
Keywords
- Acquisition
- Biotechnology
- Case study
- Entrepreneurship
- Financing
- M&A
- Merger
- Post-merger integration
- Start-up
- Venture capital