Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, business organizations, or their operating units are transferred to or consolidated with another company or business organization. M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. The term M&A refers to the transfer of ownership, control, or management of a company or its assets. M&A can take several forms, including:

• Merger: When two or more companies combine to form a single entity.
• Acquisition: When one company takes over another company.
• Consolidation: When two or more companies join together to form a single entity.
• Joint Venture: When two or more companies join forces to pursue a common goal.
• Strategic Alliance: When two or more companies join forces to pursue a common goal.

M&A can be a growth strategy for corporations to quickly increase their size, service area, talent pool, customer base, and resources in one fell swoop. The process can be costly, however, so businesses need to be sure the advantage to be gained is substantial. The M&A process involves several steps, including preliminary discussions and non-disclosure agreements, assessment and evaluation of the target, due diligence in a Virtual Data Room, signing the contract and closing the deal, and post-deal integration. The process can be intensive, and months can be spent assessing potential target companies with a thorough review of their material information in due diligence.