Progeny Linux Systems Completes First Round of Financing; Leading Linux Developers To Revolutionize Network Computing.Business Editors/High-Tech Writers INDIANAPOLIS--(BUSINESS WIRE)--July 10, 2000 Progeny Linux Systems The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. announces that it has completed its first round of financing. The new company has received seed capital through a private placement. Founded by Ian Murdock and Bruce Perens, two leading Linux developers, Progeny has begun development of a technology that challenges traditional models of network computing. Building on Debian GNU/Linux, Progeny is developing a technology tentatively known as Linux NOW (Network of Workstations A Network of Workstations (NOW) is a computer network that connects several computer workstations together with special software forming a cluster. A Cluster of Workstations (COW) is sometimes used as an alternate term. ). Ian Murdock, 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. of Progeny, explains, "Both workstation environments and centralized computers have advantages. Workstation environments are scalable, flexible and affordable. Centralized computers make sharing resources easy, and are simple to maintain. Our goal is to combine the best features of both." Murdock goes on to say, "Linux NOW turns a network of workstations into a single, seamless system. With only one system to manage, instead of hundreds, system administration becomes simpler. Security is improved. With files and other resources shared across the entire system, the user's environment becomes a unified whole. In Linux NOW, the network and workstation will meet in a way you've never seen before." Progeny bases its development on the Debian version of Linux, the operating system that is the major rival to UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and Windows NT in the server market. Named for Ian Murdock and his wife Debra, Debian has a reputation for quality and stability. Debian is also known for its sophisticated tools for installing and removing software, as well as for its commitment to Open Source software. Both Ian Murdock, president and CEO of Progeny, and Bruce Perens, Chairman of the Board of Directors, have served as Debian Project Leader and are involved in the Linux community. Other members of Progeny's staff are active Debian developers. Dr John H. Hartman, chief technical officer, is an expert on computer operating and storage systems, and an assistant professor at the University of Arizona (body, education) University of Arizona - The University was founded in 1885 as a Land Grant institution with a three-fold mission of teaching, research and public service. . Bern Galvin, chief financial officer, has over twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. of corporate financial experience, with expertise in viability analysis, organizational restructuring, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , acquisitions, and corporate startups. Financing for Progeny was obtained with the help of the Linux Capital Group (www.linuxvc.com). Investors include a mixture of venture capitalists, investment bankers, angels, and the officers of several large publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Despite the volatility in the public markets, the financing was heavily oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. . More details about Progeny's plans will be released in the next few months. For more information, contact info@progenylinux.com, or phone 317/833-0313. About Progeny Linux Systems Progeny Linux Systems develops revolutionary, Linux-based software for network computing environments. Progeny Linux System is an Open Source company. We are firmly committed to Open Source, open development, and the community of developers and users that makes our business possible. |
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