Up front demand might slow a little, but it's unlikely to dip....

Up front demand might slow a little, but it's unlikely to dip. Refresh cycles + investment in AV/UC (especially with federal budget incentives) would push this along in the next year or two. That's speculation on my part of course - but I'm taking my queues from Vlad's commentary at the AGM.

You'd have to assume they're selling the associated software/licenses. What's the benefit to the customer of selling just the hardware? DDR are essentially an aggregator and apply their specific knowledge to build the solution for the customer. Not being able to sell a complete solution would send companies to a competitor, surely.