We're seeing a lot of M&A activity in Europe, but it’s worth noting that the Nordic region is doing particularly well. In the last six months we’ve closed four deals in the region, and we’re moving two more clients into the LOI stage.
Obviously the big story over the summer was Nokia. Once the largest mobile phone manufacturer in the world, they’ve sold off that division completely to Microsoft. For less than MS paid for Skype! This is after Nokia bought out of their partnership with Siemens and Ericsson spun its mobile division out to Sony in 2011. The companies that were once the big players in mobile have completely left the field.
This shows how companies in the Nordic sector are flexible and willing to move on from early successes to focus on what they know they can do well.