After the bursting of the dotcom bubble, which was only loosely related to software technology, there seems to be a resurgance of interest in software companies.

What is the sentiment on this? Where is there value? What do you see as growth areas?

I may depend on what sector the software company is operating in. Software companies producing applications that are of their time are usually successful. A good example at the moment might well be wireless apps. and streaming data systems of various types.

Haystack:

Indeed -- but amongst the investment community there is little understanding of the difference between "IT" -- which is seen as embracing the sector although it is largely service, "software" which is an R&D fuelled manufactured product sector with service elements but a completely different financial profile, oh, and bloody dotcom which was always a nonsense sector.

About the only people that can verify my disbelief of the viability of the dotcom thing from day one is the partner in our Silicon Valley corporate law firm. She says I'm the only guy that perceived it as a bust from day one (priviledged client communications, but I can reveal it, as I'm the client). Much good it did me.

MM