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LinuxPR: MontaVista Ends First Full Year of Operation on High Note

Jan 31, 2001, 07:03 (0 Talkback[s])

"Revenues, Design-Wins, Head-Count, Investment, and Alliances Exceed Company's Goals, Validate Open Source Business Model."

"MontaVista Software, Inc., developer of the Hard Hat Linux operating system for embedded applications, announced today that the company ended fiscal year 2000 on a triumphant note, closing 15% over plan, with ten-fold revenue growth over 1999. In 2000, MontaVista captured over 80 customer design wins and significantly grew its talent pool, organically, without need for acquisition. The company also secured over $30 million in funding from key investors, including Intel Corporation."

"In the last twelve months, MontaVista clearly achieved leadership status in embedded/pervasive computing. "Our performance, as measured by revenues, customer acquisition, and head count exceeded every one of our targets," exclaimed Jim Ready, MontaVista Software CEO. "We have demonstrated that our business model is more than viable; our customers, many leading Fortune 100 companies, have validated our approach and continue to do so." Dave Warner, MontaVista CFO adds, "Today, while many technology start-ups are struggling for their very existence, MontaVista has demonstrated how combining a solid business model, cutting edge technology and a superb team can deliver - happy customers and happy investors go hand-in-hand"."

Press Release