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National Post: Sizing on a corporate chapeau

Jun 14, 1999, 14:41 (1 Talkback[s])
(Other stories by Simon Avery)

Thanks to Richard Lamothe for this link.

"The volunteers driving the Linux operating platform have reached a crossroads with Red Hat's planned IPO."

"Red Hat Inc., which offers shrink-wrapped Linux software with technical support in addition to free downloadable versions, is planning to raise a cool $96-million (all figures in U.S. dollars) through an initial public offering. Last year, the Durham, N.C.-based firm reported revenue of only $10.8-million and a net loss of $91,000.

"These Internet-type valuations show that people recognize the huge potential of Linux," says Dr. Michael Cowpland, president and chief executive of Corel Corp. The Ottawa-based software firm is dedicating about 10% of its resources to port its Word Perfect Office 2000 and other products to the Linux platform.

"The venerable Goldman, Sachs & Co. is acting as lead underwriter for Red Hat..."

Complete story.