Deals done during the pandemic have companies doing the integration from a distance
The Mayfield Heights headquarters of Park Place Technologies
The CEO of Park Place Technologies LLC, a Mayfield Heights-based provider of data-center services, provides some perspective for this Wall Street Journal article about companies figuring out the integration of two businesses after a merger or an acquisition without the benefit of personal interaction.
From the piece:
Nine months into the pandemic, as business travel remains restricted and many employees continue to work from home, chances for executives and key employees to meet face-to-face are limited. Even as deals are being struck at a hectic pace, executives say they are striving to figure out how to integrate companies and teams without face-to-face contact.
Dec. 13, 2020 9:30 am ET
Integrating two businesses after a merger or an acquisition is becoming even more of a challenge as the pandemic continues to disrupt how businesses operate. The missing piece: personal interaction.
Nine months into the pandemic, as business travel remains restricted and many employees continue to work from home, chances for executives and key employees to meet face-to-face are limited. Even as deals are being struck at a hectic pace, executives say they are striving to figure out how to integrate companies and teams without face-to-face contact.
Newsletter Sign-up CFO Journal
PREVIEW
SUBSCRIBE
“Building relationships and culture is very difficult over the computer or the phone,” said Brian Salsberg, head of the integration practice at Ernst & Young LLP, the professional services firm.