Abstract: International technology M & A is an effective way for emerging market enterprises to quickly obtain technical resources and improve their innovation ability. Dual innovation means that enterprises carry out exploratory innovation and utilization innovation at the same time, and the two innovation methods cooperate and complement each other to achieve technological breakthrough and product innovation. Exploratory innovation and utilization innovation promote each other to avoid path dependence caused by a single innovation mode. Therefore, enterprises should seek the balance of dual innovation, achieve short-term performance and long-term performance growth at the same time, obtain long-term competitive advantage and promote the comprehensive and coordinated development of enterprises. From the perspective of M & A integration process, this paper identifies the conditional factors affecting the dual innovation performance of international technology M & A according to the M & A motivation, M & A integration process and the impact of the external environment, including technology similarity, technology complementarity, integration mode, absorptive capacity, integration experience, enterprise nature, formal system distance and cultural distance. Based on the cross-border technology M & A events of listed enterprises from 2008 to 2017, an effective method to explore the combination effect and interaction relationship - fuzzy set qualitative comparative analysis (fsQCA) is adopted to change from a single-dimensional perspective to a multi-dimensional interactive overall perspective, and bring the impact of various conditional factors in the process of M & A on the performance of dual innovation into a common analysis framework, investigate the interaction between these influencing factors, establish a high dual performance configuration model, identify the core condition factors. And this paper analyzes the joint effect of different influencing factors on the dual innovation performance of enterprises in the context of international technology M & A, and the sufficiency and necessity of each influencing factor. It is found that technological attributes, enterprise nature, integration experience and R & D intensity are important factors affecting enterprise dual innovation performance; The acquirer enterprises should carry out M & A integration by identifying the characteristics of technical resources of both sides, realize two-way knowledge transfer, and adjust the balance between exploratory innovation and utilization innovation; Compared with technology similarity, technology complementarity plays a more important role in improving the performance of dual innovation; R & D investment is the key factor for enterprises to improve the performance of exploratory innovation; M & A integration mode and enterprise nature are the main factors affecting the dual innovation performance of M & A. no matter what kind of ownership enterprise, it can improve enterprise innovation performance through M & A. the key lies in the combination with M & A experience, integration mode and other factors. All enterprises can improve the dual innovation performance through M & A. the key is that when selecting the target party, the enterprise should match its own conditions and development strategy, clarify the M & a motivation before M & A, fully understand the technology type of the target party and its own conditions and factors, and select the appropriate M & A strategy.