We are particularly bullish on software that addresses issues such as security, storage management, and e-commerce and Internet infrastructure. These areas have become high priorities for corporate spending. The recent high-profile computer virus outbreaks have heightened awareness for the need for security software. The vast amount of data created by the use of the Internet and other new technologies is driving demand for storage management solutions. The need to develop the infrastructure behind Internet and e-commerce solutions is fueling demand for software.
Carriers are hard-pressed to roll out new enhanced services.
We often use the analogy that you can't turn a huge ship around on a dime, because change takes time. But customers seem to be somewhat impatient. As usual, the telecom carriers are holding the ball, with the speed of their deployment holding the key to when consumers will be able to play. Two global telecom services companies are well positioned to take advantage of the data explosion. We see the addition of Sprint, which is expected to occur early next year, making this company even stronger.