“Red Hat, which sells software and technical support for Linux,
a Unix-like operating system, today unveiled an investment unit
aimed at funding open source-related start-ups.”
“The company said the Red Hat Ventures division will take
$500,000 to $2 million stakes in new companies specializing in
open-source software and Internet infrastructure technology. Red
Hat said it hopes to identify new business opportunities through
the funding of start-ups.”
“In recent months, the company has undergone a high-level
management shuffle and has struggled with a strategy to diversify
its revenues streams. The company has scaled back plans for a
Linux and open-source news Web site, Wide Open News, which launched
last year.”