The European marketplace presents characteristics, which are inherent and different to those of North America. As a consequence, global trends must be reviewed and modeled to fit this very diverse marketplace. For the next 12 months Mangrove believes that the following megatrends must be taken into account when looking at the future development of the European Private Equity technology markets:

• Peer-to-peer computing
• Gaming
• Discounted deals
• Security
• Mobile value added services
• Network management
• Duration of due diligence and decision cycles