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CNET News.com: Embedded Linux company Lineo scraps IPO plans

Jan 12, 2001, 22:34 (0 Talkback[s])
(Other stories by Stephen Shankland)

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"Lineo on Friday withdrew its plans for an initial public offering, a sign that investor pessimism has swept into a previously optimistic part of the Linux landscape."

"Lineo, which had filed in May to go public, is working to put Linux in set-top boxes, network routers and other non-PC "embedded" computing devices. Even as the regular Linux market lost its luster and other Linux companies consolidated, the embedded market attracted many new start-ups and two IPO filings."

"We decided to pull it," Chief Executive Bryan Sparks said in an interview. "We had a board meeting on Wednesday and we discussed market conditions the last couple months. We think the IPO window is closed."

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