Recently I spent several days in Spain and Portugal with our Managing Director, Miro Parizek, meeting with business leaders, and speaking at Merge Briefing conferences in Madrid and Lisbon. Corum recently advised majority shareholders in the sale of their stake of a Portuguese company, Altitude Software, to Investing Profits Wisely and BBVA, a regional bank, and we had some wonderful celebration meals in both cities. I came away with a renewed appreciation for the quality of the technology companies in the area, much due to excellent educational programs, but also a better understanding of what a great opportunity Iberian tech companies are for a strategic buyer. Not only do they represent an investment in the region, but a low cost entry into the overall EU market. However, what many dont realize is that they are a back door into Latin America, a market roughly equivalent to the population of the United States, with an overall economy growing at 3X the pace of Europe. There are 32 countries worldwide that speak Spanish, roughly half a billion people, and 250 million that speak Portuguese. Spain has been a big investor in Latin America. Portugal is especially interesting because of their close historical and economic ties to Brazil, the dominant economy in Latin America and one of the biggest growth opportunities in the world today. We will be bringing new tech companies from Spain and Portugal to market shortly strategic buyers would be wise to take a close look.