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TechWeb: Investment Bank Embraces Open Source

Jan 30, 2001, 17:15 (0 Talkback[s])
(Other stories by Ken Schachter)

"The move signals a major win for both the open-source movement and CollabNet Inc., Brisbane, Calif., which will manage the development site. It comes amid strong momentum by the open-source community, most notably in penetration of the Linux operating system."

"What this shows is how some of the concepts of open source are spreading to more established enterprises and businesses," said Kathy Quirk, an analyst at the Hurwitz Group."

"It validates the concept that open source is not just for technology companies alone," said Bernie Mills, vice president of marketing at CollabNet, who said the deal extends his company's reach while showing DrKW is "at the leading edge of technology. Although financial companies have security concerns that might make them shy away from open-source projects, Quirk said, citing companies like E*Trade Group Inc. (stock: EGRP) and Merrill Lynch, said they also tend to be early adopters of technology."

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