SOURCE: The Bedford Report

The Bedford Report

December 23, 2010 11:25 ET

Application Software Companies Race to Diversify

The Bedford Report Provides Analyst Research on & Red Hat

NEW YORK, NY--(Marketwire - December 23, 2010) - Two themes dominated headlines in the Application Software industry in 2010: smartphones and acquisitions. Industry heavyweights have been taking advantage of the mobile trend through front-end mobile applications and online stores. Meanwhile acquisition rumors and speculation took over the spotlight in the latter half of 2010. As companies continued to grow and experience diminishing returns in their core business, some showed willingness to utilize their large resource pools to acquire smaller companies in a race to diversify themselves. The Bedford Report examines the outlook for companies in the Applications Software industry and provides research reports on (NYSE: CRM) and Red Hat, Inc. (NYSE: RHT). Access to the full company reports can be found at: has been going on a shopping spree this December. Earlier this month the enterprise cloud-computing company announced that it would buy Heroku -- a cloud-based application solution provider -- for $212 million in cash, plus $27 million in stock. The acquisition will enable Salesforce to advance in the Cloud 2 platform.

Also this month, TechCrunch reported that acquired the e-mail reminder service company, Etacts. The terms of the deal have not been disclosed.

The Bedford Report releases regular market updates on the applications software industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Earlier this week, Red Hat posted fiscal third quarter earnings of $26 million, or 13 cents a share, on revenue of $235.6 million, up 21 percent from a year ago. Going forward the company expects to post profit, excluding items, of 21 to 22 cents per share in its fourth quarter ending Feb. 28.

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