This quarterly global snapshot of activity in the technology sector highlights trends, business challenges and opportunities. In this edition we review the third calendar quarter of 2016.
The technology sector posted strong year-over-year and quarter-over-quarter growth of 9.4% and 10.8%, respectively, in the third quarter. Overall, growth was led by the Internet and Semiconductors sectors. Though market sentiments improved, technology M&A remained slow during the quarter but the global technology IPO market posted positive performance for the second consecutive quarter, delivering 43% sequential growth from 20 tech IPOs compared to 14 tech IPOs in Q2 2016, and a 264% increase in total proceeds. The financial markets and world economy showed mixed performance in the third quarter. Europe remained flat, with GDP growth of 0.3% while the US economy grew by 3.2%, the strongest growth registered this year.
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