“Linuxcare, a company that provides support services for Linux
operating system users, got a fresh cash infusion this week.”
“The significance? It comes three months after a withdrawn IPO,
layoffs, and executive departures cast doubt on the firm’s
long-term viability.”
“On Wednesday, the San Francisco company said it secured $32
million in new investments from a group of backers that included
Lehman Brothers, Motorola, Sun Microsystems, and the venture arm of
Dell Computers.”
“Executives said they plan to use the money to expand their
operations and to keep the firm afloat until it considers another
stab at the public market, possibly next year. The company had
filed to go public in early March — when the market for tech
stocks and Linux-related companies in particular was at its peak —
but withdrew a month later when faced with a cooling stock market
and the departure of its chief executive officer.”
Web Webster has more than 20 years of writing and editorial experience in the tech sector. He’s written and edited news, demand generation, user-focused, and thought leadership content for business software solutions, consumer tech, and Linux Today, he edits and writes for a portfolio of tech industry news and analysis websites including webopedia.com, and DatabaseJournal.com.
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