Linux Today: Linux News On Internet Time.

More on LinuxToday

Linux Journal: Red Hat Names New CEO, Acquires Cygnus

Nov 16, 1999, 02:09 (0 Talkback[s])
(Other stories by David Penn)

WEBINAR: On-Demand

No-Size-Fits-All! An Application-Down Approach for Your Cloud Transformation REGISTER >

"Red Hat today confirmed rumors that it was, in fact, acquiring Cygnus Solutions in a transaction valued at approximately $674 million. The deal involves a stock for stock merger through which Red Hat will issue as many as 6.6 million shares for all outstanding Cygnus securities. While the agreement is still subject to approval by Cygnus shareholders, there is little reason to doubt that the deal will go through...."

"Cygnus Solutions has been a major player in the commercialization of open source software since the company's founding in 1989. The company's tools and products, such as Cold Fusion and the GNUPro Toolsuite are targeted for enterprise, Internet and embedded applications. Red Hat has been among the most recognizable Linux companies over the last year providing both its own distribution and services to Linux users worldwide."

"Red Hat's acquisition of Cygnus Solutions also confirms Red Hat's intention to compete in the embedded systems marketplace, in which Caldera Systems (among Linux companies) has staked a major claim. Embedded systems, which includes handheld devices, PDA's "smart phones" and other intelligent, information devices, are seen by many in the industry as the next frontier of computing appliances."

Complete Story

Related Stories: