The structure of composite films made of high T g polystyrene (PS) nodules dispersed in a low T g polybutylacrylate (PBuA) matrix was studied by means of small angle neutron scattering. For films cast from mixtures of PS and PBuA latexes, segregation of PS particles leads to dense clusters of PS particles in a PBuA continuous medium. This segregation has the main features of a phase separation. For films cast from two-stage (core-shell) particles, this segregation phenomenon is prevented, depending on the coverage of the PS core by the PBuA shell. Upon annealing the films above the T g of PS, extensive coalescence of PS particles occurred when large contacts were already present in the dry film at room temperature, whereas coalescence could be prevented when PS particles were taken apart by the presence of a PBuA shell. The extent of coalescence had a strong influence on the films mechanical properties.In waterborne coatings applications, polymer films can be obtained by drying polymer particles colloidal suspensions. During the drying process, particles have to approach each other, stick, and finally get deformed from spherical to polyhedral as water evaporates (J-3). Particles made of polymers of low glass transition temperature (T g ) are thus required in such a film formation process but the final (dry) films mechanical properties are poor. A mechanical properties reinforcement can be obtained when solid particles are mixed with the low T % polymer ones. Those solid particles can be either inorganic or organic when a high T g polymer is used. In this latter case, a further structural transformation of the dry films can be obtained by heating the films above the glass transition temperature of the high T g polymer. The weak bonds between solid particles at their points of contact are then strengthened by polymer 4