1952Alan,
Very interesting post 29379...could you please share with us the list of the eighteen that have gone 'inhouse' and what you determine as 'in-house' expertise/R&D/Product/infrastructure...
As for the profits being used for marketing purposes, I will be delighted to see if that is the case, the opportunity to reduce integration and procurement costs and thus lowering the retail sales price will of course create a larger TAM, which with a smaller annual subscrition base could equate to a significant longer term quality earnings base i.e. 100K contracts x annual fee (say £60)..with almost no on-cost would be a very lucrative model indeed..
I look forward to reading your research..
regards
T..