This paper assesses the impact on innovative performance of alternative external sourcing strategies. In particular, the study under discussion compared external sourcing strategies based on specialization to those based on integrating various sourcing modalities (e.g., alliances and M&As). Survey data from three waves of the Community Innovation Survey (CIS) in the Netherlands were used to investigate the implications of these sourcing strategies for innovative performance. The findings indicate that synergies exist among external sourcing modalities: Integrating different external sourcing modes is more effective than specializing in a single mode, especially when the specialization is focused on M&As. Among the specialized strategies, focusing on the use of strategic alliances leads to higher levels of innovative performance than relying exclusively on M&As.