This paper builds on an observation study of the merger process between two
high-tech companies. It contributes empirically by providing an account of
the processes of learning and the emergence of strategies in the post-merg
er phase; theoretically, by modelling the ways in which communities of prac
tice (founded on collective competence and tacit knowledge) may undergo rap
id change; and normatively, by providing a counter-example to the received
wisdom of the strategy literature that merging companies should have comple
mentary assets and competencies.