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Technology Stocks : Mcaffee Associates

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To: Tim Robbins who wrote (11)8/11/1996 9:23:00 AM
From: Ran Kivetz   of 23
 
I tend to agree with you that the Vycor acquisition was a good deal. They bought a good help desk vendor for only $9M. On the other hand, Astea, bought Bendata for approximately $36M!!! According to the IT research company, Gartner Group, Vycor was in 1995 better positioned than Bendata (Gartner maps help desk vendors on a two-dimensional matrix: "Ability-to-Execute" and "Completeness-of-Vision"). Vycor was ahead of Bendata on both dimensions. Seems like McAfee made a good purchase, while Astea might have paid too much. I wonder if this doesn't explain some of the Astea "meltdown."

Anyhow, what bothers me about McAfee's prospects in the help desk industry is mainly two facts:

A. They are specifically targeting internal help desks (MIS departments), thus leaving the entire CIS (Customer Interaction Software) arena to Vantive and the like. The CIS market is larger and faster growing than the internal help desk one.

B. In a war between Remedy and McAfee, Remedy has more to lose (Remedy's sole business is the management software applications, while McAfee derives the bulk of its revenues from Anti-Virus, electronic software distribution, and asset management tools). Hence, Remedy will fight harder. Is McAfee really dedicated to the management software applications?

P.S. It is true of course that McAfee has an advantage in integrating technology abundant asset management tools with help desk software.
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