From where should acquiring companies draw the members from – internally, target company, independent/external, or a mix?
If a mix, what would be a good proportion such that institutional knowledge (of acquirer and target company) is preserved while maintaining objectivity and focus (i.e. no baggage)?
Would these members – assembled for a specific, time-limited assignment – feel uncommitted as they do not see a future with the new organisation? If so, what are some ways to overcome such barriers – e.g. promising members permanent roles in the new organisation?
I believe it depends on several factors such as the type of the deal, desired culture, value drivers , and so on. The most critical factor would be to select a manager for the integration team who was involved in the acquisition from day one to ensure achievement of strategic objectives through continuity and proper integration.
In my opinion, the best is to have a number of integration teams by function (HR, Sourcing/Procurement, Finance/Accounting/Tax, Legal, Relevant Business/Marketing as needed) reporting back to a central team. Before day 1, the integration team(s) can mainly be formed by associates of the purchaser depending on the level of disclosure that was agreed with the target company while after Day 1, it is important to have mixed teams to align processes and systems (or implement the alignment that was agreed before Day 1).