Question-and-Answer Session
Operator
Your first question comes from Nicolas Gaudois from UBS. Please ask your question.
Nicolas Gaudois - UBS
Yes. Hi. I've got two questions. Firstly, you confirmed basically in your presentation that you are still targeting a cash balance, net cash of 50 million pounds. So, should we assume conservatively that if the dividend payout in Q4 offset part of the cash flow, you would at least do buybacks of basically the delta, which is nearly 50 million pounds in Q4?
Tim Score
Yeah. I think that's a fair assumption.
Nicolas Gaudois - UBS
Okay, great. And just coming back Tim, on what you said in your expectations for backlog progression, I mean have I heard right? You expect 20% growth or you said 20% growth sequentially is in [programs] possible in Q4. And could you evaluate the case applying the drivers for both PIPD and PD for us?
Tim Score
Yeah. What I said was, if you look into the actual licensing pipeline of opportunities, it's as rich as it's been. And if you look at the mix of opportunities in terms of deal type and the sort of technology that is under discussion, a kind of normal closure rate and a normal mix from that pipeline in Q4 would suggest that a meaningful uptick in the backlog at the end of the year is reasonably likely. I say on these calls every quarter, it's very hard to call the quarterly closure date of individual licenses.
But certainly based on experience now over a number of quarters, the type of mix that we have in this pipeline and the sheer quantum of it and the value of the deals in it is indicative of the backlog being more likely to be up than not.
Nicolas Gaudois - UBS
Okay. And on the back of that, would you expect as a consequence, double-digit revenue growth for licensing in '08, despite the fact that PD had effectively a good year so far?
Tim Score
I think that's a perfectly reasonable prospect. Yeah.
Nicolas Gaudois - UBS
Okay. Thank you very much.
Operator
Your next question comes from William Wyman of Cazenove. Please ask your question.
William Wyman - Cazenove
Hello. Just a question on PIPD. You mentioned that the division has fallen short again because of investments in kind of developing new products. And we've seen a couple of new deals in technology. I guess the question again is at what point would you expect to see a step change in PIPD? When can we see a high profile IDM contracts for new technology? Is the timeframe here moving towards the end of next year?
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