Can someone explain what an add-on is? Why do firms that do a lot of these sometimes have a bad rep?

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Add-on is another word for an acquisition, usually when a large company acquires a smaller company. Bad rep comes from the fact that you generally get rid of headcount redundancies when you make acquisitions (eg fire people who have overlapping positions between the two companies), as well as typically buying the companies with large amounts of debt, often creating a more precarious situation for the company financially due to the debt load. That'd be my 30 second explanation on a nutshell.

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Yeah, that's correct. An np.

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