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NY Times: Red Hat Soars After Inking Deal With AutoZone

Nov 30, 1999, 15:57 (0 Talkback[s])
(Other stories by Kevin Max)

"Shares of Red Hat rose sharply Monday after the software maker announced it had reached a computer services deal with auto-parts chain AutoZone."

"Red Hat said it had agreed to provide on-site consulting and support services to AutoZone as part of the retailer's plans to install a computer terminal system based on Linux software in its 2,800 stores...."

"This isn't a reaction to a deal with a relatively mainstream company like AutoZone," said Christopher Galvin, an analyst at Hambrecht & Quist, which co-managed Red Hat's initial public offering in August. "It's a reflection of the momentum of Linux operating systems and the open source market."

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