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Software AG: The 2010 Truffle 100 highlights the dynamism of the European software industry

Published: 9/27/2010

  • The “Truffle 100 Europe” ranks the region’s top software companies in terms of software revenue
  • Software industry revenue was up by 8 percent in 2009 (total EU growth rate -4.2%) despite the global recession
  • European software industry R&D employment up 4% against an overall EU decline of 1.5%
  • The software industry is highlighting the importance of industrial diversity to European economies

Software AG welcomed the fifth edition of the "Truffle 100 Europe" unveiled on September 28th, 2010, with the support of Neelie Kroes, European Commissioner for the European Commissioner for the Digital Agenda. The “Truffle 100 Europe” is the leading ranking of the top 100 European software companies. The 2010 issue shows that the software industry dynamically increased investment in research, employment, and revenue above the European Union industrial averages in 2009 despite the global recession. The industry maintained profit levels in 2009. Of particular significance was the increase of over 4% in investments and employment in research within the software industry at a time when overall employment was shrinking. The report shows that a larger software sector in Europe would provide a buffer to economic contraction and provide an earlier return to growth.

“This phenomenal performance in a difficult market highlights the positive effect a fully developed software industry would have on Europe’s economy”, said Software AG CEO, Karl-Heinz Streibich. “An increase in research investment and high value employment of over 4% dramatically shows where Europe’s future growth will come from. It is ever more pressing that the European Union focuses on the development of the software industry as central to its Digital Agenda 2015. I will be driving this issue at Germany’s fifth national IT Summit to be held in December and welcome EU Commissioner Neelie Kroes’ efforts at a European level.”

The Truffle 100 companies last year collectively raised revenue to €27.1 billion (€25 billion in 2008) and net profits to €3.7 billion (2008: €3.6 billion). Research & development employment in the top-100 companies grew by over 4% to 54,180. This significant increase in Research & Development investment is reflected in that tax breaks for R&D investments was seen as primary measure in growing the industry by vendors.

Read the full press release