Sheehan, who has been investing in start-up companies since 1985. "The environment in Europe is much better than it ever was," said Mr.
Ideas that have been simmering quietly since the technology crash of 2000 are now starting to come to the surface and attract investors, he said. To Patrick Sheehan, a managing partner of 3i Investments in London, European technology investment is entering a "late spring" after a long, hard winter. Last week, Motorola offered to buy TTP Communications, a British wireless company, for £103 million, or $194 million. Ericsson, the Stockholm-based mobile network company, said today that it would buy Netwise, a Swedish developer of Internet phone software, for 300 million kronor, or $42.3 million. In recent weeks, there has been a veritable drumbeat of technology investments of various sizes. The value of the two agreements is so minuscule as to be immaterial to the American software giant's massive bottom line, but the deals stand out because they involve the exchange of so-called intellectual property. PARIS, June 5 - Microsoft plans to announce in Brussels on Tuesday that it is investing in a London-based computer networking company and a Dublin developer of mobile phone software - fresh evidence of what some leading venture capitalists say is a new blossoming of bankable innovation in Europe.
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