Sure. When I worked for the great technical company that was bought by a telco that was bought by another telco, the argument my group made was that replacing any one of us was a) hard b) took a long time c) cost the company about a million dollars in lost sales during the transition.

Management largely agreed with this line of thinking, up until the second purchase. At that point it became clear that we were going to be eaten and the chewed-over carcass spun off.