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LinuxPR: Lutris Technologies... Compaq, NEC, Deutsche Banc Alex. Brown in Strategic Investment...

Aug 22, 2000, 20:14 (0 Talkback[s])

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"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 Source."

Press Release