The course aims to convey an understanding of the processes involved in mergers and acquisitions (M&A) in the hi-tech area, focusing on acquisitions in which small innovative firms are acquired by large, well-established firms. The sources of value creation in this type of M&A are studied and analyzed in comparison to other strategic alternatives open to the acquiring and the acquired firms. Students learn how to manage the acquisition process in all its stages, from an overall integrative perspective that takes into account the strategic, financing and organizational aspects, from the point of view of the acquiring firm and the acquired firm – with all its various stakeholders (entrepreneurs, employees, venture funds, and others). Emphasis is also placed on understanding the difference between value creation and its division among the parties to the merger or acquisition. In addition, the course contributes to familiarizing students with the various branches of the hi-tech sector, their characteristics and strategic approaches to creating and maintaining competitive advantage. The course includes lectures, reading of background material, case analyses, guest lectures, and more.