Thank you for posting your query in Microsoft Q&A.
Let's say you have tenant A where users are synced from on-premises to tenant A using AD connect.
You have newly acquired new company who has users in Tenant B and they do not have any on-premises environment.
You will have to first verify Tenant B domain in your Tenant A. For this you will have to remove the domain from Azure AD of Tenant B and then you will be able to verify this domain in your Tenant A.
Post this you will have to create all the users in Tenant A that you had earlier in Tenant B.
After doing this you can assign licenses to users accordingly as per your requirement.
If users had mailboxes online previously in tenant B then you can follow below article to migrate mailboxes to Tenant A.
https://learn.microsoft.com/en-us/exchange/mailbox-migration/migrate-mailboxes-across-tenants?source=recommendations
Let me know if you have any questions.
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