“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.”