Monthly European Technology Venture Capital Bulletin - March 2008
23/04/2008. After a strong January and February this year, which both exceeded monthly transaction totals when compared to 2007, March is our first month where total numbers of deals and investment are down from the prior year, according to Go4Venture.

Cleantech investments in first quarter up 42 per cent from a year ago
16/04/2008. Cleantech investments in North America, Europe and Israel totalled $1.25bn in the first quarter of 2008, up 42 per cent from the same period a year ago, according to The Cleantech Group. The figure represents the second consecutive quarterly decline since the record third quarter of 2007, yet it is an all-time record for a first quarter period in the cleantech category, and also the first time a first quarter has exceeded the $1bn mark.

Lyndhurst Partners Review - January 2008
12/03/2008. In their quarterly review of M&A Activity, Lyndhurst Partners noted that sustained momentum related to M&A, strong upward movement in stock market indices, mixed performance by publicly-traded IT service-focused organisations and encouraging statistics related to hiring and spending in the IT sector characterised the market for IT Professional Service Organisations during January 2008.

Cleantech venture capital investment in 2007 jumps 43 per cent to $3bn
12/03/2008. An eco-conscious society powered by clean energy, a vision long championed by scientists and environmental advocates, may soon be a reality, according to new data released by Dow Jones VentureSource. The data shows venture capitalists invested a record $3bn in 221 clean technology deals worldwide in 2007, a 43 per cent increase over the $2.1bn invested in 173 similar deals in 2006.

Lyndhurst Partners Review - October 2007
05/03/2008. In their quarterly review of M&A Activity, Lyndhurst Partners noted sustained momentum related to mergers and acquisitions (M&A), strong upward movement in stock market indices, mixed performance by publicly-traded IT service-focused organisations, and encouraging statistics related to hiring and spending in the IT sector characterized the market for IT Professional Service Organizations (ITPSO) during October of 2007.

Technology Sector M&A Overview 2007
06/02/2008. In football parlance, 2007 was a 'game of two halves'. While the worldwide M&A feast of 2005/6 carried on until halfway through 2007; the second half was a disappointment as the credit crunch drained liquidity from private equity buyers and reduced confidence worldwide. The technology sector has felt the slowdown too, but with lower interest rates, ongoing technological change and increasing cross-border activity, the game is far from over, writes Brian Parker of ICON Corporate Finance.

Build companies, not exits
21/11/2007. In this IVCJ article, Isabel Maxwell profiles Dan Avida in her continuing series on investments and high tech personalities.

Lyndhurst Partners Review - Q2 2007
31/10/2007. In their quarterly review of M&A Activity, Lyndhurst Partners noted sustained momentum related to mergers and acquisitions (M&A), strong upward movement in stock market indices, mixed performance by publicly-traded IT service-focused organisations, and encouraging statistics related to hiring and spending in the IT sector characterized the market for IT Professional Service Organizations (ITPSO) during the second quarter of 2007.

Cyberstates 2007
11/07/2007. US high-tech industry adds jobs for second year in a row, says AeA report. Their research shows that in 2006, the high-tech industry continued growing, adding nearly 150,000 net jobs for a total of 5.8 million in the United States.

Lyndhurst Partners Review - Q1 2007
20/06/2007. In their quarterly review of M&A Activity, Lyndhurst Partners identified a total of 86 ITPSO transactions in Q1 2007. Though this total reflects a decrease of 13.1 per cent in comparison to the prior quarter (99), it also represents an increase of 10.3 per cent over the same quarter a year ago (78) and is the second largest number of ITPSO transactions in any quarter since the initial publication of The Lyndhurst Partners Review in January of 2003.

Competing on strengths: the challenge for Europe’s IT companies
20/06/2007. The aims of this KPMG study are two-fold: to identify the major opportunities and challenges facing Europe’s information technology companies, and also to advance steps that industry leaders and policymakers can take to foster greater competitiveness.

Lyndhurst Partners IT services M&A review - Q4 2006
28/02/2007. Lyndhurst Partners identified a total of 99 ITPSO-related transactions during the fourth quarter of 2006. This total represents a 32.0 per cent increase over the prior quarter’s total (75), and a stunning 90.3 per cent increase over the same period a year ago (52).

ICT Watch: a view to the future
07/02/2007. KPMG look at the current business sentiment in the information technology, telecommunications and electronics sector and the changes in the underlying factors that are likely to have an impact on the industries’ future development.

Microsoft's multiple challenges: is its size a benefit or burden?
20/12/2006. Microsoft announces that it will spend about $2 billion to fend off rivals such as Google and thwart Sony's video game ambitions, and the company loses more than $30bn in market capitalisation in a day. Fair trade or overreaction?

MySpace, Facebook and Other Social Networking Sites: Hot Today, Gone Tomorrow?
29/11/2006. Popular social networking sites, including MySpace and Facebook, are changing the human fabric of the Internet and have the potential to pay off big for investors, but - given their youthful user base - they are unusually vulnerable to the next 'new new' thing. As quickly as users flock to one trendy Internet site, they can just as quickly move on to another, with no advance warning, according to Wharton faculty and Internet analysts.

The succession question at tech firms: when's the right time to go?
22/11/2006. The recent resignation of Scott McNealy as CEO of Sun Microsystems, the company he founded 22 years ago, is another milestone in the succession process of a large technology company. But tech companies often pose unique succession issues, in part because of their unusually fast growth and young founders, according to Wharton faculty and technology experts.

The Lyndhurst Partners IT M&A review
15/11/2006. A continuing increase in merger and acquisition activity, encouraging statistics related to both job growth and employment opportunities in the IT sector, and rising wages for IT professionals characterised the market for IT professional service organisations during the third quarter of 2006, says Lyndhurst Partners.

Go4Venture Monthly VC Bulletin - June 2006
09/08/2006. June 2006 was again a month of sustained activity with approximately €135m being invested in the European VC sector. This is roughly in line with last year's figure, and is approximately in line with May 2006. On a cumulative basis, the Headline Transaction Index is 20 per cent ahead compared to June last year. So it's hardly a runaway market, simply healthy growth in a sector which is still recovering from the worst downturn in its (short) history.

The arts of communication
14/06/2006. In this part two of a two-part series in the Israel Venture Capital Journal, high-tech entrepreneur Isabel Maxwell continues to discuss the principles of good communications.

Creative financing for start-ups
24/05/2006. Software manufacturing, software programs to defeat spam, new business data technology and web services are all areas of opportunity for entrepreneurs, according to venture capitalists taking part in a panel on creative financing at Wharton's Entrepreneurship Conference.

IT sector competitiveness
24/05/2006. Europe’s suppliers of information technology systems are losing out to their rivals in the US and Asia because they don’t offer value for money, according to a report by the professional services firm KPMG.

Tune in tomorrow for the digital living room?
16/05/2006. When Microsoft introduced its Xbox 360 console last year in an MTV special, its intentions went beyond just fun and games. The company called the product a future-generation game and entertainment system. Wharton experts say the digital living room is becoming a reality, but slowly.

European Technology VC Bulletin: March 2006
10/05/2006. Go4Venture's monthly European Technology VC Bulletin for March 2006 reports that after the record-breaking February, the market caught its breath. March 2006 was an uneventful month, with HTI activity broadly in line with last year's level.

European Technology VC Bulletin: February 2006
29/03/2006. Go4Venture's monthly European Technology VC Bulletin for February 2006 reports that following January's upbeat start to the year, February saw activity in the Headline Transactions Index leap to a new high, with 25 deals contributing to a bumper €194 million crop of transaction volume.

Summary of Israeli high-tech company capital raising Q4 2005 and full year 2005
21/03/2006. Capital raised by Israeli high-tech companies reached $1.34bn in 2005, reports the IVC, with an 8 per cent year-to year decline due to a slow fourth quarter.

Top ten most significant events in 2005 for the global outsourcing marketplace
08/03/2006. Outsourcing industry insiders say that all signs point to an industry on the verge of restructuring. Last year was a watershed year for the global outsourcing industry, with key events indicating a marketplace poised for restructuring, according to a review of buyer, supplier and investor activity by Everest Group.

The arts of communication
08/02/2006. Internet entrepreneur Isabel Maxwell is well-experienced in dealing with communication issues between Israelis and their Silicon Valley counterparts. In this Israel Venture Capital Journal article, she presents her insights and offers concrete suggestions on how to close the communications gap.

It’s all about information
25/01/2006. Dealing with the huge amounts of information being generated has become an important issue for enterprises and individuals alike. In this Israel Venture Capital Journal article, IT and software expert Erez Ofer of Greylock Partners discusses the challenges and opportunities ahead for venture capitalists.

Putting intelligence into embedded systems
17/01/2006. The demands that are being placed on microprocessors are rising across all industries, says Wellington Partners. Which means that this hardware-dominated sector is increasingly having to rely on efficient, innovative software - an ideal field of activity for young technology vendors.

From Jaffa to Java
20/12/2005. Israel's software developers are on the global map, but with changes in the industry, will they continue to have appeal to VC investors? Yaron Polak, Partner in Genesis Partners, provides his insights in this Israel Venture Capital Journal article.

Strategies for the software revolution: It depends what you are
21/11/2005. Knowing the software/IT segment in which one operates and developing the right set of strategies for that segment are key to success maintains Shuki Ehrlich, managing director at Giza Venture Capital, in this IVCJ article.

The Bayh-Dole Act: eight points that every technology company should know
21/11/2005. Prior to 1981, the US Government owned but rarely patented the inventions it funded because there existed a prevailing belief that publically funded research belonged to the public, says Baker & McKenzie. Today, the Bayh-Dole Act allows for private ownership of government funded inventions. However, venture capitalists undertaking technology transfer from universities, federal labs or other entities that receive government funding should be aware of a few of the legal requirements imposed by the Bayh-Dole Act before committing significant resources to these endeavours.

The dissolving perimeter and the human factor
09/11/2005. Venture capitalists will find that tomorrow's security solutions will differ from those in place today. In this IVCJ article, Etay Bogner assesses future security sector opportunities in light of the proliferation of mobile devices.

IT outlook
12/10/2005. UK investment in the IT sector has fallen for the fourth year in a row, according to Venture One statistics, says Scottish Equity Partners. On the face of it this is disappointing news but, looking more closely it can be seen that the rate by which it fell has decreased sharply.

European Technology Venture Capital Bulletin
04/09/2005. Looking on a cumulative basis, Go4Venture's monthly VC Bulletin for August shows that the market has finally got ahead of 2004, by approximately 20 per cent. This contrasts with a virtual standstill in Q1 2005 compared to the same period the year before.

Management buyout and expansion investments lead 2004 technology investment trends In Europe
29/06/2005. Technology private equity investments in Europe rose by a healthy 19% to €6.4 billion, according to PricewaterhouseCoopers' Money for growth: the European technology investment report 2005.

Average investment value up in 2004, but still a disappointing year for technology investment.
22/06/2005. With the renewed confidence in the technology sector, the field was set for technology investment in the UK and Ireland to build momentum in 2004. The reality was different, says Cobalt Corporate Finance.

Exploiting the UK's science and technology base
06/04/2005. In this report by TTP Ventures, David Connell asks what is the key ingredient for big time success on the global technology stage? And what is it that leads to so many strong new technology companies being created in the US and so few in the UK and the rest of Europe? Is it the larger US market, more experienced CEOs, greater availability of investment, better VCs, or maybe all of them?

IT services M&A review
15/03/2005. Continuing sector consolidation, surging stock market indices and sustained improvements in labour statistics characterised the market for IT Professional Services Organizations (ITPSO) during the 4th quarter of 2004, according to Lyndhurst Partners.

Outsourcing is affecting all sectors of the economy
07/03/2005. Grant Murgatroyd at Kleinwort Capital looks at how outsourcing is creating opportunities in the healthcare, technology and manufacturing sectors.

Automotive safety technology for VCs
15/02/2005. Mercer investigates how venture capital firms will be able to benefit from the rapid evolution of technology over the next ten years which will aim to make automobiles much safer than ever before. Driver assistance systems promise the fastest growth rates for private equity firms, while potential portfolio supplier companies will fall into two types: system suppliers and specialists.

High Technology VC in the San Francisco Bay Area
26/01/2005. Fenwick and West map the venture capital landscape of this important area of Silicon Valley, including the basic legal issues, the C-Corp form for tech enterprise formation and venture funding in the region.

European Technology Acquisitions
18/01/2005. An analysis of technology transactions announced in the first half of 2004 involving European companies found a rapid increase in the number of acquisitions, says Regent Associates. The number of transactions was the second highest on record - only bettered by the heady days during the first half of 2000.

Tech Transfer Investing: Venture Investing in IP Commercialisation & Research Spinouts
07/12/2004. Wayne Embree from Cascadia Partners and Todd Sherer from Emory University look at entrepreneurship from the lab: case studies of successful university spinouts.

Is the semiconductor industry turning the corner only to face another wall?
30/11/2004. The semiconductor industry is riding high on an up cycle that should see worldwide sales for the first half of 2004 break $100 billion for the first time ever, and annual growth projected to possibly exceed 30%. Semiconductors drive the whole IT industry, from hardware products to software, and are regarded as the principal bellwether for the entire industry fortunes. With this statistic, it appears that the technology downturn is well and truly over, says Stuart Paterson of Scottish Equity Partners.

The Lyndhurst Partners IT services M&A review
22/11/2004. Significant sector consolidation, declining stock market indices, and moderately improved labor statistics characterized the market for IT Professional Services Organizations (ITPSO) during the 3rd quarter of 2004, said Lyndhurst Partners.

Satellite Radio: Wave of the Future or Niche Play?
01/11/2004. Experts at Wharton and elsewhere say there's little doubt that satellite radio will eventually become big business. The question, though, is when.

Is the semiconductor cycle over? Trends and outlooks
16/09/2004. The severe downturn in the semiconductor industry, following the burst of the bubble in 2000, brought about a new era in which semiconductor companies have had to adapt to slower growth rates, fewer cost efficiencies and consumerisation of the industry, according to Daniel Amir of WR Hambrecht & Co. This has led companies to revise their business strategies and approach their markets differently.

The Lyndhurst Partners IT services M&A review
27/07/2004. A total of 80 North American-based IT services merger and acquisitions transactions were completed in the second quarter of 2004. This represents a 21.2 per cent increase over the prior quarter's total of 66, but a 5.9 per cent decline compared to the corresponding period in 2003, according to Lyndhurst Partners.

Has the return of bigger deals in Q2 brought new life into UK technology funding?
27/07/2004. The total number of investments in UK privately owned technology companies increased to 28 in the second quarter of 2004, compared to 22 in the previous three months. More significantly, the value of these investments increased by 94 per cent from £89m to £173m, according to Cobalt Corporate Finance.

Does success in tech ventures follow from better research and development? Think again.
22/07/2004. Success in today's globally competitive technology marketplace is not fuelled by simply throwing more money at research and development, according to Knowledge Wharton. Instead, companies need to empower technology managers to adopt a business-building approach that connects technology creation to the target market.

Clinical transformation and the value of a cross-industry perspective
13/07/2004. Unlike most other aspects of society, the healthcare industry has been relatively unaffected by the recent revolution in information technology. But the ability to take advantage of advances in information technology will be crucial in determining the winners and losers in the life sciences arena going forward, according to Deloitte Research.

Venture appetite for UK technology companies: Q1 04
14/05/2004. 2004 was forecast to herald the revival of technology venture capital funding in the UK. But, when compared with the first quarter of 2003, the number of venture capital financings of over £1m in the technology sector, fell from 28 to 21, its lowest level since the fourth quarter of 1998, according to Cobalt Corporate Finance.

Lyndhurst Partners IT Services M&A Review
04/05/2004. Increasing international M&A activity, inconsistent stock market advances, and continued economic improvement have characterised the IT professional services sector in the first quarter of 2004, according to the Lyndhurst Partners quarterly review.

Lyndhurst Partners IT Services M&A Review
10/02/2004. A total of 56 North American IT services merger and acquisitions transactions took place in the fourth quarter of 2003, according to Lyndhurst Partners. This represents a 12.5 per cent decline on the previous quarter.

Will open source close your exit?
19/01/2004. The use of open source software, in the developmental stages of a portfolio company, is becoming increasingly problematic for private equity firms when that company comes to be sold. Karen Copenhaver and Ira Heffan outline the key issues that investors and portfolio company management need to be aware of when dealing with open source software, and how it may affect the potential exit opportunities available to an enterprise.

IT Services M&A Quarterly
29/10/2003. A total of 60 US-based mergers and acquisitions transactions took place in the IT services sector in the third quarter of 2003, according to Lyndhurst Partners. This figure represents a quarterly decline of 26.8 per cent on the previous quarter.

Homeland security industry - the bucks and the bangs - outlays and technology trends
22/10/2003. The homeland security industry is currently the fastest growing sector in the US and is predicted to grow from $5bn in 2000 to $130bn in 2010. Dan Inbar of the Homeland Security Research Corporation provides his views on the direction of the industry and its future importance.

Venture investing in the storage sector: The cold, hard facts
15/10/2003. During the last three years, the global venture capital community has invested a historically unprecedented amount of capital in the storage sector. But despite this, seven out of ten storage ventures fail, according to Crescendo Ventures.

Unleashing IT
15/10/2003. It is becoming increasingly important for European small and medium-sized enterprises to achieve full technological integration if they are to improve productivity and ultimately to succeed, according to French private equity firm, Aurel Leven NextStage.

New rules on technology licensing
01/10/2003. Substantial changes to technology licensing laws are due to be implemented by the European Commission early next year, explains Freshfields Bruckhaus Deringer.

Investing in homeland security technologies: a venture capital perspective
09/09/2003. Tal Keinan of Giza Venture Capital examines the development of the homeland security technologies sector. He takes a venture capitalist's approach and assesses the possibilities for start-ups, as well as discussing the opportunities presented to Israeli technology companies.

TMT VC confidence survey Q2 2003
27/08/2003. Venture capitalists in Hong Kong and mainland China are beginning to sense that there is light at the end of the tunnel. Respondents to Deloitte & Touche's TMT VC confidence survey for Q2 2003 are far more upbeat and optimistic about the next six months than they were three months ago.

Technology forecast 2003-2005
23/07/2003. Information technology is increasingly becoming an integral part of the business world and end-to-end business automation has become a major objective of enterprise IT, according to the PricewaterhouseCooper's Technology Forecast 2003-2005.

Technology mergers and acquisitions review
07/05/2003. Both technology investors and technology companies suffered continued disappointment in 2002 as public markets continued to decline and venture capital turned in a weak performance. Updata Capital reviews the mergers and acquisitions activity for the sector for 2002.

Time for a high-tech shakeout
26/02/2003. The technology industry needs some trimming if companies are to thrive in coming years. Too many players are throwing money at the same functions, from sales and marketing to research and development, in pursuit of the same limited market. The leaders who will push the coming consolidation are likely to come from outside the industry. While they may now be reviled, they could be laying the foundation for the next wave of prosperity, says T Michael Nevens of McKinsey Quarterly.

Intellectual property: partnering for profit
26/02/2003. Most companies' attempts to make money out of their intellectual property suffer from the mistaken belief that it is an easy source of revenue. But capturing the full value of these assets requires systematic effort, a well-managed network of outside partners, and active senior-management support, say Jeffrey J Elton, Baiju R Shah and John N Voyzey in McKinsey Quarterly.

The next design inspiration
12/02/2003. Although there has been much talk about the collapse of the technology sector in the last couple of years, the industry does still offer a glimmer of hope to investors. Lee Bruno of Red Herring discusses the rise and ongoing development of semiconductors.

The world is too much for Europe
22/01/2003. Europe's TMT sector remains well behind that of the US in terms of world-class, world-beating companies that create stakeholder value on exit. Ajay Chowdhury of IDG Ventures Europe discusses.

The techno option
18/12/2002. The technology bubble may have burst but there still remain plenty of opportunities for venture capitalists able to take advantage of low entry prices. Francesco di Valmarana of Digital Networks argues that institutional investors, particularly pension funds, would do well to include technology-focused venture capital funds in their portfolios.

The role of venture capital: turning science into money
11/12/2002. Investors new to private equity may find many of its characteristics puzzling and potentially off putting. Bill Frezza of Adams Capital Management explains some of the workings of private equity, relating it specifically to the applied materials industry..

Technology after the bubble
21/11/2002. The use of technology at leading companies like Dell, Schwab, and Wal-Mart provides valuable lessons for IT vendors, which will soon need to help less prescient companies get the most out of their investments.

Technology fiction and the VC investment cycle
12/11/2002. The bursting of the technology bubble has left many venture capitalists with a bitter taste in their mouths. Many had followed the trend and invested frantically. Most of these are now ruing their haste. Yet the technology sector is not all bad news, argues Moshe Nazarathy of Giza Venture Capital, as opportunities in developing technologies, such as nanotech, offer cause for optimism.

TMT is dead, long live TMT
23/10/2002. The sudden demise of TMT has forced many investors to shy away from the sector. Yet it may be that the death of the old TMT has given birth to a new sort of TMT company – one that does not confuse sales with marketing. Ajay Chowdhury of IDG Ventures Europe discusses.

Millennium Millionaires 2003
23/10/2002. There is more venture funding in the market for technology entrepreneurs in 2002 than there was a year ago, says Norman Broadbent International in its latest ‘Millennium Millionaires' survey. But the effects of the collapse of the TMT bubble are still being felt, as valuations have continued their decline from the peak of 2000.

The Israeli optical industry: has the light faded?
16/10/2002. The optical sector in Israel has become saturated with start-up companies over the last few years. Yet venture capitalists are still investing in this crowded space. Dr Astorre Modena of Israel Seed Partners discusses why.

Upgrades ahead
28/08/2002. The bursting of the technology bubble has affected all areas of venture capital financing, none more so than for start-ups in the networking sector. Yet, Julie Landry of Red Herring argues, these entrepreneurs are in a favourable position as new technologies are always in demand. The problem lies in finding venture capitalists to fund them.

Soul-searching in Silicon Valley
04/06/2002. In recent months the venture capital industry has seen several funds return money to their limited partners. Indeed, much of the money from big fund-raising a year ago is still sitting in the pipeline. However, as Rebecca A Fannin of the AVCJ discusses, Asia offers a glimmer of hope to the private equity industry.

The state of the technology private equity financing market
15/05/2002. 2001 was truly disastrous for the technology and private equity markets as the IPO window slammed shut and the aftershock of 11 September created uncertainty on an unprecedented scale. Steve Terry of Battery Ventures assesses what the immediate future holds for investment in this arena arguing that it is not all bad news. In fact technology companies themselves can help restore the confidence of private equity investors.

Learning from high-tech deals
22/01/2002. Mergers and acquisitions, especially in the high-tech sector, are a favourite target of business pundits and academics, since many studies show that up to three-quarters of these deals destroy value. But if they are so unproductive, why are the most successful high-tech companies the most prolific deal-makers, asks McKinsey Quarterly. A study of 485 companies shows that high performers pursue their transactions as part of a disciplined and ongoing programme, link their transactions to clear strategic goals, and are organised for fast decision making and effective implementation.

Mid-market players and technology investing
03/12/2001. Is technology investing a sensible option following the tech stock crash? Is e-business now a no-go area? Wol Kolade of Friends Ivory & Sime private equity provides some answers to these questions in this presentation.

The tech boom: valuation inflation, a flood of day traders and other excesses
13/11/2001. As the 1990s technology boom was accompanied by productivity gains, people began feeling that the old rules of investing no longer applied to them. And that, noted a panelist at the recent Wharton Finance Conference, only fueled the excesses.Conference participants shared their views on what led up to the technology boom and who suffered the most when 'the music stopped'.

Buying a European technology company - key questions
17/10/2001. This article by Gawain Hughes of Osborne Clarke helps to re-assure investors that fund managers are fully aware of the due dilligence proceedures when investing in a European technology company.

Money for Growth - The European technology investment report 2000
17/07/2001. European private equity investment in high technology companies surged to a record E11.5bn in 2000 – a 68 per cent increase on 1999 figures – according to this latest report by PricewaterhouseCoopers.

IT in Flanders - a region in the fast lane.
16/07/2001. FFIO offers an overview of the state of the IT industry in Flanders and an insight into the factors that give this region a place in the IT revolution.

Technology investing: more than dot.bombs?
10/07/2001. Failed dot.com companies have had a lasting impact on perceptions of the technology industry. Here Pinsent Curtis Biddle examines other areas of the UK technology industry and illustrates that there are opportunities for technology and start-up investing outside of the internet.

Israel High-tech survey 2000
29/05/2001. The Israeli high-tech industry is a popular topic of discussion among investors, but how fast is it growing? And can it sustain its pace of development? In its annual survey, IVC-Online presents a comprehensive review of trends and statistics.

The Israeli high-tech industry
29/05/2001. With over 80 venture capital firms operating in Israel and over $6.5bn under management in Israeli technology funds, this is an industry that investors should keep a close eye on.