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Traditional management information systems are mature. The computer and software markets have been commoditized. We believe the consumer digital markets will pace the rate of future growth of information technology. Additionally, users are demanding greater bandwidth as innovative internet applications and new service delivery models proliferate.
We are currently observing the wholesale replacement of legacy consumer analog technologies with digital ones. Examples are television, photography and voice. The leading innovation is occurring on the handheld device, no longer the personal computer which was commoditized by the near monopoly power of Microsoft and Intel.
Communication technologies are transforming service delivery models. The proliferation of fixed wireless broadband networks is challenging the cable and telecom oligopolies. New business applications are requiring more bandwidth as software applications are now delivered as internet services. Companies are developing redundant networked storage for disaster plans, and online and remote data availability requirements are increasing.
Our partners have collectively over 40 years of experience in investing in small capitalization technology companies and have analyzed and witnessed what it takes to succeed and grow to become a large capitalization stock. They have managed multi-billion dollar portfolios of hundreds of companies and conducted thousands of interviews with company managements.
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