LinuxDevices.com: Lineo announces $3 million funding, hardware spin-offs, management changes
Dec 17, 2001, 23:21 (0 Talkback[s])
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"Lineo Inc. today announced the results of recent
changes, including the removal of hardware businesses and changes
to the executive team, along with another round of investment. The
plan for a major corporate restructuring and refocusing had been
announced two months ago, and a change in CEOs was announced last
month.
The spin-offs include the removal of several Lineo hardware
products, including: Availix (high-availability hardware systems /
Paris); uCdimm (microcontroller hardware / Toronto); and SnapGear
(residential gateway hardware / Brisbane).
As a result of the spin-offs and other staffing reductions,
company-wide headcount is now 138, according to Lineo CEO Matthew
Harris. "We feel like we're the right size now," said Harris.
Harris expects Lineo to reach break even in approximately six
months."
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