EQT AB and McKinsey & Co. report that European tech companies worth €1.2 trillion ($1.4 trillion) moved to foreign markets. This value exodus took place between 2014 and 2025.
Firms were either acquired by non-European entities or listed on overseas exchanges. Major companies like Arm Holdings and Spotify Technologies chose U.S. listings to access deeper capital pools.
The initial value of these buyouts and IPOs totaled approximately €700 billion during the period. The current valuation of these departed companies has grown to an estimated €1.2 trillion.
This shift moves the corporate centre of gravity to foreign markets, primarily the U.S. The report warns that this trend causes significant job losses and reduced economic opportunities for Europe.