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LynuxWorks Withdraws IPO

Jun 22, 2001, 15:50 (1 Talkback[s])

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Citing poor overall market conditions, embedded software company LynuxWorks, which produces BlueCat Linux, has withdrawn its planned IPO.

"The Company has elected not to proceed with the offering due to general market conditions. No sales of the Company's Common Stock have been or will be made pursuant to the S-1 Registration Statement. The Company may undertake a private offering in reliance on Rule 155(c) under the Act," reads a letter the company filed with the SEC.

This represents the second relatively high profile "embedded Linux" IPO to be withdrawn this year, after Lineo, which cancelled its own plans in January.