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AllLinuxDevices: Motorola to Invest $22.5 Million in Lineo, Inc.

Sep 25, 2000, 16:49 (2 Talkback[s])

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"Motorola, Inc. (NYSE: MOT) today announced a broad step forward in its support for open source technology, open platform computing and the establishment of Linux as an embedded operating environment."

"Motorola, through its wholly owned subsidiary Metrowerks, is expected to acquire 3 million shares of Lineo Inc. representing eight percent of the issued capital stock of Lineo Inc. for the aggregate price of US$22.5 million. Lineo has agreed to sell Motorola 2 million warrants to be converted into common shares of Lineo Inc."

"With customers demanding increasingly more complex capability in embedded devices, there is a need for a flexible, open platform such as Linux," said Fred Shlapak, executive vice president and president of the Semiconductor Products Sector (SPS) for Motorola, Inc. "As a leading provider of embedded solutions, Motorola is committed to establishing Linux as the open platform of choice for embedded development."

Press Release