Sometimes old technology die over a couple of years when new technology comes along, sometimes it takes a much longer time. If technology is embedded into core systems that works, even if not perfectly, there’s a bunch of reasons to “if it is not broken, don’t fix it”. Which is good for legacy sellers like IBM, but also open up for companies like Constellation Software and private equity shops like ThomaBravo and Vista Equity Partners to acquire smaller companies with the same dynamics as IBM’s mainframe business.
