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European software shows good growth in delicate economic circumstances

Science Business - Despite difficult times, Europe’s software industry grew by 14 per cent in 2010, according to European private equity firm Truffle Capital’s sixth edition of its Truffle 100 ranking. The league table of the top 100 European software companies was drawn up with the support of Neelie Kroes, European Commissioner for the Digital Agenda.

But even though the industry is still managing to grow - with a 14 per cent year-on-year increase, it faces more challenges than ever. Cloud computing, Software as a Service and mobile computing are revolutionising the business models in the industry and competitive pressure from US companies with larger financial resources has never been greater.