"The world of software is changing.
The relative value of technology and products--in and of themselves--
has been declining over the past ten years. Conversely, the value
of brands, customers, and distribution has been increasing."

- Rich Edwards, Managing Director
Roberston, Stephens & Company, San Francisco
(an investment bank serving emerging growth companies),
in "Everybody's Doing a Brand New Dance:
Software Partnering & M&A in the '90s"