The acquisition was perhaps predictable, since the two companies have had a partnership for 3 years now. But neither company invested terribly much in working together and the two product sets don't closely interoperate, so to that extent the timing is a bit of a surprise. I think RedDot got a good deal: €44M in cash for a revenue stream of €15M (in 2004). For Hummingbird's part, the company needed to add a WCM solution to its product offerings, and RedDot has a growing profile, especially in North America. Prospective customers of either solution (Hummingbird's heavyweight DM and RM vs. RedDot's mid-market WCM and DM) should not expect major changes. However, existing RedDot customers should be prepared for the more aggressive upselling and maintenance negotiations that come with working with a public company.