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PC Week: Red Hat buys Cygnus for $674M

Nov 15, 1999, 18:02 (0 Talkback[s])
(Other stories by Scott Berinato)

"In its first major business move since going public, Red Hat Inc. today announced it has acquired Linux tools vendor Cygnus Solutions Inc."

"At the same time, Red Hat promoted President Matthew Szulik to CEO. Current CEO Bob Young will remain chairman of the company and assist with creative direction but will no longer run the company day to day...."

"The move gives Red Hat a more comprehensive portfolio of open-source-based software than other distributions can boast -- something that was expected to happen when Red Hat became cash rich after its IPO."

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