• Top 500 European ISVs grow 12% in the last year to generate combined revenues of €97.7 billion ($142.9bn)

(London – 17 September 2009) European ISVs have generally enjoyed a relatively good year and are proving resilient in the face of recessionary pressures. In 2008, the last full year for which accounts are available, revenues for the top 500 European ISVs increased by 11.7% to €97.7bn ($142.9bn). Overall, smaller independent ISVs – which make up the majority by far numerically, outperformed the major groups with growth of 15.31% (compared with 13.06% for parent companies and 5.72% for subsidiaries).These are amongst the findings from “ISVs in Europe – The Top 500”, the latest database report from IT Europa which is published today.

The database report, which provides detailed business profiles of each of the top 500 European ISVs, provides further evidence that it is applications rather than hardware that is driving IT sales in Europe. Revenues were up in all countries with the exception of Belgium (-4.73%), Russia (-1.39%) and Monaco (-5.18%). Amongst the larger markets, the UK performed strongest with average growth rates of 17.05%.

IT Europa research manager Auri Aittokallio says: “Generally, the ISV market seems to be doing OK in the current financial environment, espe¬cially companies that provide security software. However, there have been some job cuts – especially in larger companies – and reports of more to come. Smaller companies talk of a market that is, like many other sectors, trying to weather the storm and get through without too much damage.”

The “ISVs in Europe – The Top 500” database report spans 35 countries and represents the most detailed view available of this key market sector. It has been compiled from detailed interviews by IT Europa’s own research team. The company profiles include sales breakdowns by company activity, which markets a company operates in, and detailed information on staff numbers and development plans, along with contact details for the top executives of each company. The report is available from IT Europa (www.iteuropa.com) at a cost of £2,350 for a single-user licence and £9,400 for a multi-user licence.