Financial crisis could hit IT sector- Software AG

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The financial crisis could hit the information technology sector, the chief executive of Germany's Software AG told an Austrian newspaper.

“It could be that customers hold back and delay one or two projects,” CEO Karl-Heinz Streibich told the daily Kurier. He said non-urgent projects were the most likely to be delayed, according to the paper.

Software, which Kurier said makes around 35% of its revenue in the United States, is not seeing a serious hit to its business there. “At the moment we are not seeing any big failures there,” Streibich said. (Reuters)

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