GSW "in the process of evaluating acquisition targets", page-23

Fair points DP. However, there are some points I have in relation to the CBA announcement. As an early in investor, the time I felt misinformed was the SP movement in the 2 weeks preceeding the CBA announcement. Have a look. The additional complexity here is that GSW will have issues integrating and testing a platform for a period of weeks/months without an announcement may put the stock in and inside trade environment. I will point out that the SP movement like this was not seen again prior to other announcements.

In the original April announcement (approved by CBA it seems) they said the integration was to be done by end 2017. It is my opinion the December update was needed as continuous disclosure to shareholders. They were too detailed in the December update, which riled CBA. No client of GSW wants to broadcast their solution to the competition, nor have their tech specifications broadcasted in a public environment.

I have also noticed competitors, both direct and indirect now mimicking the pricing and organisational structure of GSW. Onfleet have significantly change pricing structure as an example.

Quite a bind.