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One salient issue that U.S. IT firms face in their global expansion is various degrees of property rights protection in host countries. U.S. IT firms often prefer acquiring targets in countries with stronger property rights protection. In this study we are interested in how property rights regimes in host countries affect U.S. IT firms' post-acquisition performance. We found that firms can gain more value from acquiring targets in countries with weaker property rights protection. Host countries with weaker property rights protection are in greater demand for IT technologies to transform to the digital era and thus provide rich business opportunities for U.S. IT firms. Furthermore, we found that acquirers also differ in their capabilities in extracting profits in host countries with various levels of property rights protection. We examine acquirer size and host country acquisition experience are the moderators. Our theory receives strong …