UK software industry thriving

The UK's software industry is flourishing according to research firm TechMarketView. Last year, the top 50 UK software companies reported revenue growth of around 20 percent, together with operating profit growth of around 25 percent — showing that the UK's software industry is "a thriving and highly profitable business", says TechMarketView.

However, the research firm's chairman, Richard Holway, has warned that more needs to be done if the UK wants to create its own Microsoft or Google. According to Holway, the lack of funding for British software developers often means many of the more talented innovators head to the US for funding.

Silicon.com has the full story on the state of the UK's software industry.