"Linuxcare a privately held developer of services for companies
using the upstart Linux operating system, said on Wednesday that it
is laying off an unspecified number of staff in a major
restructuring, as the startup seeks to save money without an IPO in
its near future."
"On Monday, Linuxcare requested in a Securities and Exchange
Commission filing that its planned initial public offering to net
$56.6m (£36.77m) be withdrawn, citing market conditions and
an opinion that it would not be in the company's best interest at
"...Linux industry sources said that the company's venture
capital firm, Kleiner Perkins Caufield & Byers, is shopping the
company, with the two most likely purchasers speculated to be Red
Hat and VA Linux. Officials at Red Hat in Research Triangle
Park, N.C. could not be immediately reached for comment."
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