Question-and-Answer Session
Operator
(Operator Instructions) And from JP Morgan, we’ll hear from Sterling Auty.
Sterling Auty – JP Morgan
Yeah, thanks. Hi, guys. I wonder if you could just comment, given the macro environment that we’re in, what you saw in terms of close rates at the end of the quarter and sales cycles.
Vivek Ranadivé
Sterling, we didn’t see much impact from the economic environment, either in Q4 or in this quarter. Murray, do you want to elaborate on that further?
Murray Rode
Yes, Sterling, it did behave like a fairly typical Q1 for us. So, at least in terms of the business that closed, we can’t point to specific circumstances that macro issues came up.
Sterling Auty - JP Morgan
Okay. And then can you give a little more clarity—you mentioned that the deferred revenue was awfully strong, with 41% growth. How much of that was just strong renewals on maintenance and how much of it was other things that were going into it?
Murray Rode
The increase sequentially was all--almost entirely maintenance related.
Sterling Auty - JP Morgan
All right. Thank you.
Operator
And from Thomas Weisel Partners we’ll hear from Tim Klasell.
Tim Klasell - Thomas Weisel
Congratulations, guys, on a good quarter. Can you give us a little bit of color on how Spotfire did, and then you mentioned that you expected to add to net margins—did it add to cash flows this quarter?
Murray Rode
Yes, Tim, in terms of Spotfire’s contribution, if you think about the license breakdown we gave, Spotfire was over half of the business optimization category, and in terms of cash flow it added about $8 million or so to the cash flow in the quarter.
Tim Klasell - Thomas Weisel
Okay, good. And I also wanted to ask as well, how was Europe in trending for you, particularly in the UK financial services market, where I know you guys have historically had a pretty good footprint?
Murray Rode
As you know, the last couple of years, actually—both 2006 and 2007—Europe was a pretty good performer. This quarter, America, on a relative basis, the Americas was stronger than Europe. But I wouldn’t say that we saw any particular issues in Europe, specifically financial services in Europe.
Tim Klasell - Thomas Weisel
Okay, good. And then one final question. Can you just give us some color on ActiveMatrix? How is the uptake running there and how are you feeling about that product right now?
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