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SJ Mercury/Reuters: Red Hat acquires payment processing firm

“Red Hat Inc., the top distributor of the Linux software
operating system, Wednesday said it will buy Hell’s Kitchen
Systems, a maker of software for electronic commerce payment
processing, for nearly $97 million in stock….”

Young said the inclusion of an efficient, low-cost payment
processing system would allow small businesses and departments in
large companies to create Web sites with the same commerce features
of major Web sites
— in other words, the mainstream market
that does not now have access to reliable and low-cost credit
card-processing services.

“We see this as simply technology and it’s a necessary
technology that needs to be embedded,” Young said. “It really is
for the mass of merchants who want to be on the `Net but haven’t
the tens of millions of dollars that a major merchant like Land’s
End has to invest in electronic commerce systems.”


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