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LinuxPR: VC Industry Heavyweights Invest in MontaVista

Sep 16, 2000, 16:27 (0 Talkback[s])

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"MontaVista Software Inc., developer of the Hard Hat Linux operating system for embedded computers, today announced over $23 million in equity investments from a number of investors including WR Hambrecht + Co., RRE Ventures, US Venture Partners and Alloy Ventures. Further financial details of the investments were not disclosed."

"MontaVista, with its 100% open source approach and robust technical expertise, has a significant competitive advantage over its proprietary code competitors," said Bill Hambrecht, founder and CEO of WR Hambrecht + Co.. "We believe companies embracing the open source movement have a great advantage and that the embedded market, characterized by its wealth of sophisticated engineering talent, is likely to adopt open source more quickly and more broadly than other markets."

"MontaVista CEO, Jim Ready, and his depth of experience in the embedded market, coupled with the team he has assembled, the partners he's brought in, and his customer list, make for an exceptional investment opportunity," said Ken Ross of RRE Ventures."

Press Release