Indonesia is the largest and fastest-growing digital economy in the ASEAN region. Arguably there are more tech unicorn companies in ASEAN than other regions. The majority of these can be found in Indonesia, with five technology companies worth over US$1 billion – Gojek, Bukalapak, Tokopedia, OVO and Traveloka.

This analyzes the aspect of people and talent during and after the M&A deal of technology companies. I believe this topic is important to discuss, considering the many rumors about potential M&A deals among Indonesian large technology unicorns.

Many businesses are still maintaining a view that M&A deals are an essential key in their growth strategy. M&A deals are still seen as a quick path to increase business value, extend and build capability, acquire highly skilled talent and much more. However, great challenges remain to achieve a successful M&A deal in today's business environment.

Throughout 2020, on home turf, rumors about a merger between Grab and Gojek intensified. However, this potential deal reached a dead end. Then, in 2021, analysts claimed that tech M&A deals in ASEAN could pick up, driven by more recent rumors that two Indonesian tech unicorns, Gojek and Tokopedia, were in advanced discussions to form a more than $18 billion merger.

In today's situation, the growing number of technology companies, coupled with a critical skills shortage among a limited talent pool, has resulted in heightened competition for talent across all sectors. A rather aggressive terminology has been widely used to depict these talent problems, the "talent war".

The tech organizations are on the frontlines, ready to charge toward their rivals when it comes to battling for talent. Technology companies are vying for the same talent pool.

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