re: cloud computing I think the FRR backdoor listing can't strictly be classified as a pure cloud-play tech company. Rather, they seem more like a reseller of vendor software that is used in the cloud environment, which explains why their profit margins have been extremely skinny (only around 3%).
SPA is on a whole different level compared with FRR, being focused on the much more lucrative managed service offerings at the IAAS level with the intention to further expand into the PAAS layer.
re: cloud computing, page-8
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