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        <Name>Software Convergence Driven by Disruptive Changes</Name>
        <Summary>Conditions are ripe for M&amp;A as a strategic path to growth</Summary>
        <Description>&lt;p&gt;&lt;font face="Verdana" color="#4a4b4d" size="2"&gt;Among the many factors driving&amp;nbsp;M&amp;amp;A activity&amp;nbsp;in 2006, disruptive changes in the enterprise software sector are leading to&amp;nbsp;high growth opportunities and driving convergence.&amp;nbsp; This was noted in Updata Capital's Webinar last December, &amp;quot;&lt;a title="Updata Webinar" href="http://updatacapital.com/publications/WebinarReminder.htm" target="_blank"&gt;Internet-Infrastructure Software Convergence&lt;/a&gt;,&amp;quot; as well as in our &amp;quot;&lt;a title="Updata Capital 2006 Outlook" href="http://www.updata.com/publications/Capital_2006Outlook.htm" target="_blank"&gt;2006 Outlook&lt;/a&gt;.&amp;quot; &lt;/font&gt;&lt;/p&gt;&lt;p&gt;PricewaterhouseCoopers and the Economist Intelligence Unit recently surveyed executives on the drivers of convergence between telecom carriers, technology companies and content owners.&amp;nbsp; Their study&amp;nbsp;considers the question of whether M&amp;amp;A&amp;nbsp;&lt;font size="2"&gt;activity is driven by the need to&amp;nbsp;&amp;quot;converge or die&amp;quot; or if market conditions are ripe for growth through M&amp;amp;A vs. organic growth.&lt;/font&gt;&lt;/p&gt;</Description>
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                  <Synopsis>Shaping digital convergence through mergers &amp; acquisitions</Synopsis>

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