MontaVista Software Secures $21 Million in Private Funding.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. -- MontaVista Software MontaVista Software develops systems software, development tools and Embedded Linux-based software targeting embedded systems such as automotive electronics, communications equipment, and television set-top boxes and other connected devices and infrastructure. , Inc., the leading global supplier of production-quality embedded Linux The Linux operating system configured and enhanced to work in a wide variety of applications, including handheld devices, network appliances, industrial machines and consumer electronics devices. The modularity of the Linux kernel makes it well suited to embedded systems. operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. and development tools, today announced it has secured $21 million in funding led by Siemens Venture Capital. Also participating were NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , Alloy Ventures, US Venture Partners, Aplix and others. "MontaVista Software is the leading supplier of field proven Linux operating systems deployed in tens of millions of devices and electronic equipment by over 2000 customers," said Thomas F. Kelly, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , MontaVista Software. "These funds will allow us to expand our product offerings and continue to attract the highest quality talent in the marketplace." Venture Development Corporation (VDC VDC Volts Direct Current VDC Venture Development Corporation VDC Vehicle Dynamic Control VDC Village Development Committee (Nepal) VDC Virtual Data Center VdC Verband der Cigarettenindustrie ) estimates that worldwide shipments of embedded/real-time and mobile application operating systems, bundled tools, and related services totaled over $1 billion in 2005, and by 2008 will reach $2 billion. "We have been a growing customer for years and have strategic product lines in market based on MontaVista technology," said Reinhold Achatz, Head of Siemens Corporate Research and Technologies, Siemens AG. "MontaVista is a key supplier and our increased investment through Siemens Venture Capital reflects this." MontaVista delivers three distinct Linux editions: Mobilinux for mobile phones and devices, Carrier Grade Edition for telecommunications infrastructure equipment, and Professional Edition for a wide range of electronic devices. "MontaVista Linux is proven, highly reliable software," said Yoshikazu Maruyama, senior vice president, IT Platform Business Unit, NEC Corporation. "We have seen six nines reliability from our infrastructure equipment using MontaVista Linux. We will continue to deploy MontaVista Linux for expanding the Next Generation Network (NGN (Next Generation Networks) An umbrella term for mixed voice and data networks running over the IP protocol. See IP Multimedia Subsystem. ) market place with our growing strategic relationship." The financing closed on November 24. The Company intends to use these funds primarily to build cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. . "Increasing our investment in the market leader for embedded Linux was a sound decision," said Steve Krausz, General Partner for US Venture Partners. "From their installed base of top named customers and their technical leadership, to their strong management and a large and growing market, the investment was compelling." About MontaVista Software MontaVista is the leading embedded Linux provider for the telecommunications, mobile, and embedded markets. MontaVista delivers a complete, flexible and open operating system which allows designers to innovate across a wide range of mobile and wireless devices and communications infrastructures. Headquartered in Santa Clara, Calif., MontaVista has operations in 15 countries. For more information, please visit www.mvista.com. About Siemens Venture Capital Siemens Venture Capital (SVC (1) (Switched Virtual Circuit) A network connection that is established at the time the transmission is required and disconnected when the session is completed. ) is the 700 million euro corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of 75.4 billion euros in fiscal 2005. SVC's goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in information and communications, medical solutions, automation and control, power, automotive technology and transportation systems, and lighting. To date, SVC has invested some 700 million euros in well over 100 startup companies and 30 venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: , mainly in the U.S., Europe and Israel, thus playing a key role in the global network of innovation. SVC is located in Germany (Munich), in the U.S. (San Jose, CA and Boston, MA), in China (Beijing and Shanghai), in India (Mumbai and Bangalore), and is active through Siemens' regional unit in Israel. Linux is a registered trademark of Linus Torvalds. MontaVista is a registered trademark of MontaVista Software Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners. |
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