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The technology sector posted quarter-over-quarter growth of 5.6% in the fourth quarter of 2015, and a marginal year-over-year growth of 0.2%.
Services remained the growth driver for tech companies, with the Internet subsector seeing an almost 20% year-over-year increase and software services 5.3%.
Significant transformational activities continued for tech companies in the fourth quarter, including several large spin-offs, divestitures, and acquisitions.
The quarter was marked by mixed economic performance across major markets. Falling oil prices and financial volatility had a chilling effect on the US economy, which only grew by 1%. The Eurozone continued to show signs of a mild recovery, growing as expected at 0.3%. In Asia, China grew at 6.8% while Japan shrank by 1.4%.
In terms of IPOs, buoyed by a strong Q4, 2015 represented the second-best year for tech IPOs in five years, seeing 92 IPOs with proceeds of US$27.1 billion.