Companies need to have a clear, well-defined strategy for their specific business vertical. As part of this process, it needs to consider all possible alternatives: Build in-house, License, Partner, Co-invest, Acquire, etc., and come to the conclusion that a specific acquisition is the best way to go. For example if your business is underperforming and if you are struggling with regional or national growth it may well be less expensive to buy an existing business than to expand internally.