Managing patterns of internationalization, integration, and identity transformation: The post-acquisition metamorphosis of an Arabian Gulf EMNC

In this paper, we study the multifaceted transformation of an emerging market firm making multiple acquisitions. Drawing on a process study of an acquisitions program spanning two decades, we examine the post acquisition internationalization, integration and organizational identity dynamics of an Arabian Gulf EMNC serial acquirer. We find that the serial acquisitions and post-acquisition integration were sufficiently profound and changing over time to create an organizational identity transformation in four phases: (1) diffusion, (2) consolidation, (3) restoration, and (4) reinvention. These phases further reflect an emergent business model centered on new resource allocations and innovation competencies as well as a new worldwide brand and revised value propositions. Our study enhances understanding of post-acquisition integration variations and programmatic expansion through acquisitions from emerging markets by proposing a post-acquisition metamorphosis perspective on internationalization from a region of the world relatively less-examined yet nevertheless of central economic importance from a global geopolitical resources perspective.