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Issue date: 1 June 2000 Article source: Daily News

Title: Dotcoms and Y2K Cost Suppliers Dear

The growth in spending on IT software and services fell from 25% in 1998 to 16% in 1999 due to the Y2k effect, according to the 2000 Holway Report on the financial performance of the top 2000 software and services companies in the UK.

The report said many suppliers had invested heavily in dotcom technology, though it accounted for less than 10% of UK software and IT services sales, which had depressed profits.

Richard Holway claimed, the main players in the sector - EDS, IBM Global Services, ICL- will ultimately be the real winners in the move to e-business. The report predicted spending growth of around 14% this year, with spending on the Internet and e-services rising to 30% of the industrys revenues by 2003.

http://www.computerweekly.com/cwarchive/daily/20000601/cwcontainer.asp?name=C4.HTML&SubSection=6

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-- (Dee360Degree@aol.com), June 04, 2000