|Argus Cyber Security||Continental||Nov 2017|
|August Home||Assa Abloy||Oct 2017|
|Squarebreak||Accor Hotels||Jul 2017|
|Compte Nickel||BNP Paribas||Apr 2017|
|Clicars||PSA Group||Apr 2017|
One interesting question - most countries have a tax credit for R&D for large corporates, and that is mostly for the internal R&D work they do. Would we extend that tax credit to startup acquisitions because in a way, when you acquire a startup, you are supporting innovation? I do not make a big difference between spending your money on your own R&D versus spending your money to acquire a startup to innovate. In the end, it’s the same result. It would be interesting to extend those R&D tax credits to startup acquisitions as a way to boost the M&A market by corporates in Europe.