Agree opportunists - they are here no longer because they will get burnt. The US growth is heading in a nice direction
The rubbish written on here regarding deferred income reductionis utter crap, license growth is the key number which is all positive growth. No one knows the amortisation profile of deferred revenue other than the company. It's a number on the balance sheet. This business is all about growing license numbers, burning ARPU in developing markets is part and parcel of growing the business!
Ann: Becoming a substantial holder, page-9
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