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LinuxDevices.com: Lineo announces $3 million funding, hardware spin-offs, management changes

Dec 17, 2001, 23:21 (0 Talkback[s])
"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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