Glossary · Deal process
Post-merger integration
Also called PMI, integration planning
Definition
Post-merger integration (PMI) is the work of bringing an acquired business into the buyer's organisation: teams, IT systems, finance, processes and customer relationships. Good acquirers start planning it during due diligence, using what they learn in the data room to set the integration plan before day one.
Where post-merger integration comes up
On this site, in our guides and in the conversations we've written up.
Video · RSM South Africa What operational due diligence checks that financial and legal DD miss He splits the deal value chain into four parts: investment thesis, valuation, sale and purchase agreement, integration planning.
Video · Datasite Why seller preparation, not financing, now sets the pace of M&A Both panellists want synergy and integration planning to start on day one, with the local operators who will have to deliver it. Related terms
Operational due diligence Diligence on how the business actually runs: processes, systems, supply chain, sites and people. Corporate development The in-house team that finds, runs and integrates a company's acquisitions and partnerships. Binding offer A buyer's final offer after due diligence, usually with a marked-up purchase agreement attached. Bolt-on acquisition A smaller company bought to add to an existing platform business, common in private equity. Buy-side The buyer's side of a deal: the acquirer or investor, and the advisers who help them find, check and price a target. Carve-out The sale of a division or business unit that has to be separated from its parent company. Clean team A small, ring-fenced group allowed to see a competitor's sensitive data during a deal, under strict rules. Distressed M&A Buying or selling a business in financial trouble, often under time pressure or in insolvency.





