"Lutris Technologies Inc., the Open Source enterprise software
and services company, today announced the completion of the first
phase of its Series C round of financing. New investors in the
current $16 million round include Compaq Computer Corporation
(NYSE: CPQ), NEC, and Deutsche Banc Alex. Brown. Continuing
investors are Chase Capital, Chase H&Q Partners, and Intel 64
Fund. Lutris intends to use this new investment to help further
the adoption of its Lutris Enhydra Open Source Internet Application
Server by corporate users and to support the continued development
of wireless and Java/XML capabilities. Specifically, the
agreement with Compaq provides a tightly integrated solution for
the Compaq ProLiant" , Alpha, and Tru64 platforms. Additionally,
Lutris and NEC are discussing a plan to deliver Lutris products and
services to the Japanese market."
"We are looking to quickly penetrate new and existing markets.
We will use this investment to expand our product and services
availability in key global markets," explained Yancy Lind,
president and CEO, Lutris Technologies. "The combination of the
newly formed relationships and the additional funding will help
Lutris move aggressively to meet our goals."
"As a result of the strategic investment by Compaq Computer
Corp., Lutris Technologies will become a member of the Compaq
Solutions Alliance (CSA) and establish Compaq ProLiant servers as
the reference platform for Lutris Enhydra. The companies will work
closely to certify Lutris Enhydra on the Compaq ProLiant, Alpha,
and Tru64 platforms. In addition, Compaq and Lutris plan to work
together to deliver leading, cost-effective Web and wireless
solutions to customers interested in harnessing the power of Open
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