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IHT: European technology suddenly in demand

Microsoft plans to announce in Brussels on Tuesday that it is investing in a London-based computer networking company and a Dublin developer of mobile phone software, fresh evidence of what some leading venture capitalists say is a new blossoming of bankable innovation in Europe.

The value of the two agreements is so minuscule as to be immaterial to the U.S. software giant's massive bottom line, but the deals stand out because they involve the exchange of intellectual property.

In recent weeks, there has been a veritable drumbeat of technology investments of various sizes. Ericsson, the Stockholm-based mobile network company, said Monday that it would buy Netwise, a Swedish developer of Internet phone software, for 300 million kronor, or $42.3 million. Last week, Motorola offered to buy TTP Communications, a British wireless company, for £103 million, or $194 million.

To Patrick Sheehan, a managing partner of 3i Investments in London, European technology investment is entering a "late spring" after a long, hard winter. Ideas that have been bubbling along quietly since the technology crash of 2000 are now starting to come to the surface and attract investors, he said.

"The environment in Europe is much better than it ever was," said Sheehan, who has been investing in start-up companies since 1985.

 
by Fran on Tue Jun 6th, 2006 at 12:55:25 AM EST
[ Parent ]
What? No gloom and doom? No discussion about "statist" and "populist" backwards European economies? No talk of unsustainable welfare states and poor education? Nothing about low investments into R&D? Why this is an outrage!

Mikhail from SF
by Tsarrio (dj_tsar@yahoo.com) on Tue Jun 6th, 2006 at 01:19:28 AM EST
[ Parent ]
Well, there's a "new blossoming". These things happen. Must be cyclical ;).
by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jun 6th, 2006 at 03:38:32 AM EST
[ Parent ]
...would look strangely at this thread. We doing nothing but mock or lament at the clippings...
by Nomad on Tue Jun 6th, 2006 at 05:08:09 AM EST
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I think we select clippings with a view to mocking or lamenting them in the first place.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Tue Jun 6th, 2006 at 05:09:32 AM EST
[ Parent ]
I'll let Fran answer that :-)

But, if you look through the thread, the discussions are rarely meta, they are on the substance of the article : Brown's speech before the CBI, for example, or Royal's remarks on the 35-hour week, or the "report" claiming business doesn't have a say in EU regulation-making.

The above piece about tech investment invites mockery. Until yesterday the pundits were all telling us Europe doesn't have the right kind of business environment for tech innovation, over-regulation and not enough R&D, etc etc. Now we're told it's great. Everything suddenly changed? Or the message changed?

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jun 6th, 2006 at 05:48:35 AM EST
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Nah, Microsoft decided to buy a couple of startups so they have to come up with a theory of it.

It's like stock market analysts who are paid to come up qith ex-post-facto explanations of rndom market movements.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Tue Jun 6th, 2006 at 05:53:02 AM EST
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I dunno... news is bad almost be definition. I think this kind of behavior is a cultural universal.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt št gmail dotcom) on Tue Jun 6th, 2006 at 05:19:52 AM EST
[ Parent ]
No, we don't. We discuss Royal's statements on the 35-hour week, for example. We criticise Brown's anti-European speech. This is neither mocking nor lamenting. Though, of course, there are often things to mock or lament in a press review.

As for the hypothetical outsider, it all depends on who s/he is, and what her/is feelings about life, society, the world, are... ;)

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jun 6th, 2006 at 05:53:52 AM EST
[ Parent ]

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