The expansion of transnational corporations from emerging economies during the last decades has generated a great interest among scholars in analyzing the presence of reverse technology spillovers. This kind of spillovers are generated when transnational corporations use outward FDI to attract and transfer knowledge and technology from abroad to improve their own technology capabilities in their home countries. The aim of this research is to analyze the presence and impact of reverse technology spillovers on Mexican transnational firm performance innovation. Using panel data Tobit econometric models of 13 Mexican multinational corporations over the period of 1994-2015, results confirm the presence of reverse technology spillovers that could be attracted through Mexican firms’ absorptive capabilities. The paper concludes discussing the need of implementing adequate public policies to support the internationalization of the Mexican multinational corporations.