As　technology　has　become　core　resource　for　enterprises　meeting　the　requirement　of　market　and　customers,　more　and　more　companies　choose　to　acquire　new　technique　by　mergers　and　acquisitions　to　enhance　their　technological　capability　and　core　competence.　But　not　all　technological　mergers　and　acquisitions　can　achieve　that　finally.　This　presents　a　dilemma　for　acquirers.　More　and　more　attention　has　been　paid　to　technological　mergers　and　acquisitions　synergy.　This　paper　analyzes　factors　that　affect　technological　mergers　and　acquisitions　synergy　and　researches　how　and　to　what　extend　the　factors　affect　technological　mergers　and　acquisitions　synergy.　At　first,　it　proposed　15　factors　based　on　professional　consult　and　literature　review.　Then　it　set　up　the　structure　model　of　the　factors　that　affect　technology-based　acquisition　synergy　by　applying　interpretation　structure.　Finally,　it　does　a　case　study　of　acquisition　synergy　of　Lenovo　acquiring　IBM　PCD.