Blog – September 2016
Halfway through the month a BBC forecaster pointed out that so far September had been hotter than June, July and August. I think he was talking about the weather but the market indicators for the Technology sector have been equally hot over the summer.
The techMARK reached an all-time high in mid Aug and is still hovering very close to that level now. The FTSE 350 Software & Computer Services index touched its all-time peak earlier this month. We see these as good indicators of market confidence.
Another interesting news item was that of a significant takeover of a US business by a UK one (yes, I have got this the right way around). I am of course talking about Micro Focus’s £6.6bn acquisition of Hewlett Packard Enterprise. This is a deal that should also be noted for the fact that it effectively puts the former Cambridge-based Autonomy’s assets (amongst others) back in British hands. You may recall that HP’s acquisition of Autonomy in 2011 valued it at over $11bn. Are HP trying to forget all about it, I wonder?