Where we can add more value and make us most unique, that's what we keep in-house.

We found that customer relationships are too valuable. ... If we outsource that, we lose that feedback.

The joint venture structure allows us to judiciously use our cash resources and to maximize our shareholders' value by obtaining a strong return through our management fee and minority interest, which includes a provision for enhanced returns based on exceeding certain targets.

The tools and resources we have as a partner have been of tremendous value. It's critical for us to really understand the business aspects of [small companies'] operations first and then help them leverage the value of the technology.

There's been no reduction in the intensity of efforts of us looking at transactions, but transactions have to create value for shareholders. We do want them to be in existing categories or adjacent to them.

If we get away from that word and think about what is of value to us and what we believe in and what has depth and profound meaning and longevity, then I don't think you have to be too sheepish about it,