ScubaNick

I know that Bromcom will offer to buy you out of a contract, for others who are considering?

Hi, I think you are right whilst prices are very low this makes any business less attractive to a PE, but I cant see prices going down anytime soon, because the market dynamic, both Bromcom and Arbor are competing fast at growing customers and taking them away from SIMS whilst it's easier then ever before. But I also think you are right Bromcom can sustain the low margins easier not having to keep the pay masters happy. It's going to be a very interesting year or 2.

SIMS is definately losing market share rapidly, another thing to note Arbor are migrating schools from ScholaPack and RM to Arbor, who they now own, which will skew the figures a little