Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Moshe Katri with Cowen & Company.
Avishai Kantor -- Cowen & Company
Hi, it’s Avishai Kantor for Moshe.
Sachi Gerlitz
Good morning Avishai.
Avishai Kantor -- Cowen & Company
Hi. Two or three questions, I guess the first question basically, are the slower-than-expected revenues in Europe coming from cancelled deals, delayed funding for deals that were awarded, slower conversion from the pipeline to actual contracts, I mean what exactly is the – which one of those basically?
Ofer Segev
I would say that the first contribution to the slower revenue in Europe is a slow conversion of opportunities to bookings and from bookings to revenue. We saw for the first time after a few quarters where the booking in Europe increased, which is a very good sign, but still the conversion to revenue is slower.
Avishai Kantor -- Cowen & Company
Understand. And any specific verticals are more affected?
Ofer Segev
Say that again, verticals?
Avishai Kantor -- Cowen & Company
Which specific verticals basically are the most affected by that slower conversion rate?
Sachi Gerlitz
I would say that two verticals are most affected. Financial services, there were people that little bit slower in starting up a new project and into a large extent the public sector, which was planning to launch some of the new deals in Q2 to Q3 time frame, and it’s moved to Q3 to Q4 time frame. So, some of the booking will take place only in Q4. This, I would say, is a major reason for shifting the revenue from Q3 to Q4 time frame to 2010. The good news is that we have seen these deals come in, and as I said in my prepared remarks, some of these deals have already been booked, and we will be able to announce them in the next, say, few days or week.
Avishai Kantor -- Cowen & Company
Okay. Are those deals from existing customers, from new customers?
Sachi Gerlitz
Both.
Avishai Kantor -- Cowen & Company
From both. And what’s the mix between, I mean, can you break down the mix of those deals between existing and new customers?
Ofer Segev
It’s very difficult to answer the question, because, let’s say, for Slovak government, if you look at the government as one entity, and you would say it’s an existing customer, but agencies go to different mechanism to purchase, and therefore, I would say some of it is new customers.
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