When is it cheap enough?, page-5

"And... If they do not get it right $50 million could easily double to $100 million".

Agree 100%. If they fail then whatever client patience they can get by promising improvements evaporates pretty quickly (even if they are locked in in the medium term).

I've been watching GBT and Bravura for a while asking that same question - this may well turn around but could also be a value trap. There might be a chance to get in down the track a bit when profits have been down for a year or 2 and they start to roll out new versions and it looks like they have managed to pull it off before profits start to pick up etc. Could be a long haul...