2009 started with the world economy toppling, world markets diving and a depression was forecast by many. However, a succession of bank bailouts, nationalisations and a massive global quantitative easing programme has worked wonders and confidence seems to have returned to virtually all markets; starting with bonds and feeding into commodities, equities and riskier assets. The tech heavy NASDAQ ended the year up 44% and the UK Techmark performance was just behind it.
Technology Mergers and Acquisitions activity has also sprung back into life after a strong second half. At times during the year you had to rub your eyes and wonder whether it really was 2009, as some valuations were very attractive and the names of the M&A targets had a familiar ring to them; with the likes of Skype, Friends Reunited, Integralis and Razorfish all changing hands again.