Technology barometer: tracking the temperature of the UK technology sector
In last quarter’s barometer, sentiment was positive in the technology sector. As we review the final quarter of 2013, we see this optimism continue to increase. Unlike many new year’s resolutions, which by now have fallen by the wayside, the increased optimism we have seen as we move into the new year shows no sign of waning.
In many cases, a new year means a new start; with the technology sector, a new start isn’t needed. Optimism is already there.
The ICT services sector continues its trend in outperforming the software sector. Boardroom confidence in the sector continues its upward trajectory, with 47 per cent of respondents more confident about market conditions than in the last quarter. The fourth quarter saw a very promising 39 mergers and acquisitions (M&A) deals with many of the larger deals ICT services focused. The largest deal being the £300m MDNX/Easynet merger, which shows high-end deals in the sector are very much alive and kicking. Private equity activity dipped slightly, but it was a successful period for capital markets fundraising, with £389m of new capital raised and 11 deals in total, including the initial public offerings (IPOs) of Servelec and Kalibrate Technologies…
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