PR & Media Centre

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20/11/2007

Thousands of value-added jobs created as vendors invest heavily in R&D

UK-based Autonomy Corporation plc is designated this year’s “Bestperforming Software Company in Europe”

Brussels, 19 November 2007 – Truffle Capital and Intellect today released the 2007 “Truffle 100 Europe,” the leading ranking of the top 100

European software companies, at a presentation in Brussels chaired by Viviane Reding, European Commissioner for Information Society and Media. The ranking revealed for the first time that the industry employs 38,000 people in R&D, making the Truffle 100 a strategic provider of qualified jobs in Europe.

Autonomy Corporation plc, a UK-based leader in the rapidly growing area of Meaning-Based Computing (MBC), was designated Europe’s best-performing software company, moving up to 15th place in the ranking from 44th place in last year’s edition. Dr. Mike Lynch, Autonomy’s Founder and CEO, accepted the award from Bernard-Louis Roques, General Partner IT of Truffle Capital, in the presentation held at the European Commission headquarters, which was attended by representatives from significant European software vendors including Sage (UK), Business Objects (France), and Selligent (Belgium). It was the first time a European company has been honoured in this way.

The top four positions in the ranking remained unchanged from last year, with Germany’s SAP in first place followed by Sage (UK), Dassault Systèmes (France) and Business Objects (France). Software AG, a German company, overtook the UK’s Misys PLC for fifth position. The ranking shows growing diversification, with one third of the Truffle 10f0 in ERP or related businesses and another third in infrastructure software. Other important areas include security software, and public sector and financial software.

For the second year in a row, the Truffle 100 Europe, established with the support of CXP, a market research organization focused on software, and IDC, a leading global market intelligence firm, sheds light on the leaders of the software industry, reveals new trends and demonstrates the vitality of the industry and its contribution to the Lisbon agenda. The Truffle 100 Europe was initiated by Truffle Capital, a leading European private equity firm, and Syntec informatique, and is published in conjunction with the other main national IT trade associations in Europe: Agoria (Belgium), Aitech-Assinform (Italy), BITKOM (Germany), and Intellect (UK).

The 2007 version of the ranking shows that through constant innovation and heavy investment in R&D, European companies are successfully facing global competition. The Truffle 100 Europe companies last year collectively invested 3.3 billion in R&D, or 15% of total revenues, and 63% of them expect to increase their investments this year. With a headcount of 175,000, Europe’s software vendors have become a key force in creating new added-value jobs for engineers, computer programmers, and other highly qualified employees.

“Our data clearly shows that the European software industry is succeeding in reversing the brain drain of the 1990s, when many qualified IT employees sought jobs outside Europe. Last year the Truffle 100 invested €3.3bn in R&D and employed 175 000 people,” commented Bernard-Louis Roques “This is excellent news for European economies, which will profit greatly by increased employment throughout the software industry.”

“With €22 billion in revenues, up 6.6% despite significant acquisitions by US companies, and €2.8 billion in profits, the Truffle 100 Europe shows that the European software industry need not be modest about its position in the world economy,” added Jean-Pierre Brûlard, Vice President of Syntec informatique.

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