The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Paul Steep - Scotiabank Global Banking and Markets, Research Division - Analyst
: Steve, could you talk a little bit about capital deployment? Just how you're thinking about it in terms of the context of your earlier comments?
Obviously, we had the special dividend in February and you've already started to stockpile cash again. Maybe how are you thinking about it at the
management, maybe the Board level, what level of cash you're sort of comfortable holding versus using debt that I think we've talked about now,
I guess it was around the fall time frame of last year? Just getting your take on that would be helpful.
Question: Paul Steep - Scotiabank Global Banking and Markets, Research Division - Analyst
: Got it. That helps with context. If we just zero in, getting your thoughts on the fact that with Momindum, it was a SaaS-based deal, how you maybe
approach that deal? Not that there is a lot different there. I know the financial standards would be the same, but the metrics are a little different.
How are you finding the ability, the ability to do those deals maybe? It would be the second question.
Question: Paul Steep - Scotiabank Global Banking and Markets, Research Division - Analyst
: Yes, sorry, Steve. I should have been more clear. On the SaaS deals, on that one in particular, are they hitting valuation metrics that over time would
be similar to sort of your targeted returns, or the assumption is to get to the targeted returns that are integrated with other things in the platform,
and you're going to pick up the returns on maybe higher synergies on some of those products was how I should have phrased that.
Question: Paul Steep - Scotiabank Global Banking and Markets, Research Division - Analyst
: Last one from me to whoever I guess wants to field it. On the contact center, Vince had talked about growth you're experiencing there. Can you
talk a little bit about maybe the willingness to -- margins have kept creeping up as Todd highlighted earlier. Can you maybe sort of highlight
whether or not you'd be more willing to sort of lean heavier on the gas pedal in terms of investment maybe in distribution is what I'm thinking of?
Because, Vince obviously highlighted the R&D investment.
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