From my experience when a small company gets acquired it's often because people are no longer having the freedom they previously had. The last company I worked

From my experience when a small company gets acquired it's often because people are no longer having the freedom they previously had. The last company I worked at was acquired by a 100x larger company and "do whatever you want" turned into "fill out 3 different forms for each feature, plus meet with at least 3 senior people every week where you have to defend your design decisions to people unfamiliar with your domain and requirements. Also, you cannot hire new people locally, instead you need to use the offshore team from now on who have zero domain knowledge and are often only junior devs without experience".