This research consists of a case study that sought to analyze the perceptions of the entrepreneurs of the Affero Technology company regarding the critical factors related to Personnel Management and Communications in the Change Management process experienced in the process of a merger of four companies. The study was based upon the observation of the main problems related to people and communications, namely: difficulties in communicating the objectives of the change, difficulties in understanding the objectives of change, difficulty in promoting teamwork in the change processes and difficulty in getting individuals to adopt the changes. With regard to results, the study showed that the company used suitable communication channels for transmission of the objectives of the merger and implemented actions and events that made it easier for employees to understand the objectives of the change. On the other hand, the study shows that Affero’s Human Resources Department was late in placing greater emphasis on financial and legal matters involved in the merger process. Moreover, the research demonstrates that Affero was concerned about retaining its human talent, which rduced resistance to the adoption of change. Fundamentally, Affero today needs to consolidate the corporate governance required in a process of evolution from a small to medium sized company as well as expanding its Personnel management structure. In addition, attention must also be paid to the implementation of one of the corporate values touted by the company: meritocracy.