I would be tempted to say yes. What is the reason for this? I recently attended an Afdel conference about business angels and early stage financing where this question was asked. The president of a successful French local fund answered, saying that it is because US companies are able to sell worldwide from day one after the acquisition. (Out of his 5 recent transactions, 4 were with US companies and one got listed). While this is certainly a good reason, I think this is not the main one. US software companies understand innovation better than European ones because market conditions force them to adapt more quickly to survive competition. They also have the ability to transform products through innovation and position themselves as a differentiator that brings understandable benefits to their customers. Too often (not always, thankfully!), European companies are poisoned with the NIH syndrome (Not Invented Here) that kills innovation and makes deployment slower; innovation is reduced to just innovative technology, resulting in poor benefits to customers. Much more to say on this. Happy to discuss.