Just nine of the world’s top 100 high-tech companies have their headquarters in Europe, generating only a tenth of the industry’s global revenues, according to a study that highlights the long-term dangers to the region’s economy if the sector is allowed to wither.
The study, by the consulting company AT Kearney, points to deals such as the purchase of the UK’s Autonomy by America’s Hewlett-Packard as examples of how European businesses are losing ground to their faster-growing Asian and US rivals.
“A healthy high-tech sector is an engine for innovation that is a prerequisite for giving European companies a leg-up in a highly competitive environment,” said Axel Freyberg, one of the authors of the report.
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