The term M&A integration refers primarily to the art of combining two or more companies—not just on paper, but in reality—after they have come under common ownership: M&A refers to the merger or acquisition transaction that leads to the combination, and integration refers to a combination of elements that enables the two companies to function as one.

To practice the art of M&A integration well, one must learn by doing it—or at least learn from similar companies that have done it.

Of course, for-profit corporations aren’t the only entities that get involved in mergers and divestitures. Associations, charities, universities, trade unions, and government agencies can merge too—just to name a few merger candidates. And mergers and acquisitions aren’t the only kinds of transactions that can elicit skills in integration. Joint ventures, strategic alliances, or partial acquisitions can require some integration work as well.

Finally, sometimes integrations can be extremely complex, involving the integration of multiple companies. For the most part, this section will emphasize standard mergers or acquisitions involving two companies, with occasional references to other applications.