When Norwegian IT companies are sold out of the country it often results in adebate regarding the effects it might have on the industry. There are both skepticsand those that endorse these acquisitions, but to our knowledge no research hasbeen conducted regarding the effect it has on the acquired companies. This led usto the following research question:What strategic and structural changes take place within Norwegian ITcompanies after they have been acquired by foreign investors?An analysis of the market has been conducted which resulted in the creation of anoverview of all acquisitions made in the Norwegian IT industry from 2003 to2013. A quantitative and qualitative analysis of these acquisitions was conducted.Performance data was analyzed and compared to a control group, in order touncover differences. This thesis also present results from multiple interviews withmanagement in acquired companies, representatives from trade organizations, andother relevant actors.The study showed that companies that were acquired often became a part of theoverall strategy of the acquiring company, and lost control of some parts of thevalue chain. At the same time acquired companies were able to specialize in theircore competencies such as R&D and software development.Access to capital was found to be a problem for companies in the IT industry.Competence within sales was also found to be a challenge for companies withinternational ambitions. Low cost of highly educated employees, long-termrelationships between companies and their employees, as well as strong ties toother industries was found to be strong attributes of the Norwegian IT industry.Few cultural differences between the acquiring and acquired company made theintegration process in many cases fairly seamless compared to other industries.We are nowhere near the end of the Norwegian IT industry, and foreignacquisitions seem to be a necessary part for the future of the industry. With someminor, but important tax changes, the industry will be well positioned with astrong entrepreneurial culture that supports new and innovative IT companies.
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