RE:RE:RE:Same SP at the end of 2011
I am not against a dividend but it's not what I'm waiting for. I am waiting for the sale of the company.
Undervalued / Market Leader / able to add great value to the big players.
You get taken out not by adding a dividend, you get taken out by having market share and by being complementary to another player's product set.
My main concern is that we be the last one at the dance. If Procera is purchased then we should go too. Tier 1 telcos will not kick out an equipment vendor because Sandvine is better than Procera--switching cost is too high. They might kick out Procera to go with Sandvine but not once all the marriages are over. In my view, we're at or near a neat inflection point in the market. They've proven the business, taken share, are profitable, have a competitive advantage. Now they need a bigger player who needs a competitive advantage to buy them and to lead them into all of their captive customers.
Sandvine will not tell us that they are for sale. We will have to wait for the news release.