Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Jeff Van Rhee - Craig-Hallum.
Jeff Van Rhee - Craig-Hallum
A couple questions, guys. First maybe you can just touch on, either Buck or Kirk. If you just talk about ICG Commerce, in particular you mentioned a multimillion dollar win with large publishing company, just specifically multimillion in what respect? Is that an annual revenue type contribution just to help me understand that?
Maybe some color on the backlog you have quite often given some commentary around the backlog thereabout dollar amount and potentially contract length and any other material developments is related to ICG. Then I have a few other questions.
Walter Buckley
On ICG, yes, it’s a multimillion dollar annual contract and it will kick off some time late in the second quarter. From a pipeline standpoint, as we have said, previously, entered 2009 with very strong. Didn’t see a lot of movement in the pipeline until really March and is true really across the board and the things began to loosen up a little bit in March, continue into Map and April.
We are feeling cautiously optimistic about ICG specifically, but across all the companies and it’s a trend, but certainly we are not ready to plant the flag in the ground at the markets turned.
Jeff Van Rhee - Craig-Hallum
Your broader feeling there though would be that you would, I mean understanding that it can be somewhat lumpy in terms of stair steps higher that you don’t see any meaningful degradation in the pipeline or in the backlog in terms of existing contracts and that you tend to layer over the course of the year. So, all of the same you probably see that stair step function growth?
Walter Buckley
Yes, what’s interesting is, we had a huge fourth quarter in terms of new signings by ICG Commerce and usually after that our pipeline has taken a significant dip and we didn’t see that actually this time.
Actually the pipeline increased, the question is, forecasting ICG, when deals will close because they are large and they can be lumpy, but yes, I actually think that we will see a stair step growth.
Jeff Van Rhee - Craig-Hallum
As it relates to the broader picture, I guess and your expectations on the coming year, any color? You obviously got an interesting view in the economy through the portfolio with companies, any color on your thoughts around whether we bottomed, whether things is stabilized, improved, continue to get worse, anything along those lines would be helpful and then also sectors and model types that are doing well?
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