This study by Arthur D. Little highlights the challenges and risks associated with integrating R&D departments after a merger. Despite the potential benefits, such as economies of scale and access to new technologies, the integration process is often difficult and time-consuming. The study recommends a tailored approach that focuses on common organization, governance, processes, and performance metrics, as well as key synergy levers such as common product and technology strategies, shared R&D IT systems, and addressing cultural differences. By actively managing the integration process and persistently focusing on these areas, companies can realize stronger synergies and mitigate the risks associated with M&A activities.