MontaVista Selected to Upside "Hot 100"
MontaVista Software Among Upside ³Hot 100²
Recognized for Showing Clear Path to Profitability
SUNNYVALE, Calif., June 11, 2002 MontaVista Software, Inc., the company
powering the embedded revolution, has been chosen as one of Upside
magazine¹s ³Hot 100² companies for 2002. According to the editors of
Upside, this year¹s ³Hot 100² list focuses on companies with promising
technologies and solid business models, which, despite the difficult
economy, show substantial growth over the past year and a clear path to
profitability.
³All of this year¹s Hot 100 companies demonstrated impressive revenue growth
and sustained momentum a monumental achievement in this economic climate,²
said Jerry Borrell, editor-in-chief of Upside Magazine. ³We also selected
MontaVista Software because of the company¹s technology achievements,
customer acceptance, industry partnerships, financial backing, management
savvy and impressive marketing.²
In March, MontaVista Software was also named as one of Electronic Business
magazine¹s ³Thirty Best Small Electronics Companies for 2002.² Electronic
Business selected companies based on innovation, leadership and technology,
as well as strong revenue growth and future growth potential.
MontaVista Software Inc. is a leading provider of open-source systems
software solutions for embedded developers. Founded in 1999 by real-time
operating system (RTOS) pioneer James Ready, MontaVista Software¹s principal
products include MontaVista Linux® Professional Edition and MontaVista
Linux® Carrier Grade Edition.
The analyst group Venture Development Corporation (VDC) recently forecasted
that worldwide shipments of embedded Linux operating systems, software
development tools and related services would increase from $59 million in
2001 to an estimated $346 million in 2006, a compound annual growth rate of
42 percent. In the VDC report, MontaVista Software is recognized as a leader
in the embedded Linux arena with more than 20 percent market share.
Earlier this year, MontaVista Software received $28 million in its third
round of funding, from top tier venture capital companies US Venture
Partners, Alloy Ventures, Intel Capital, RRE Ventures and WR Hambrecht &
Co., and from major corporations such as IBM, Intel, Panasonic and Sony.
³MontaVista Software is demonstrating the strong validation and successful
acceptance of Linux in the mainstream embedded market,² said Jim Ready,
president and CEO, MontaVista Software. ³In 2002, we expect that Linux will
become the platform of choice for carrier-grade applications in
telecommunications and also predict the burgeoning use of Linux in
name-brand digital consumer electronics.²
In 2001, MontaVista revenues increased 250 percent over the previous year.
The company achieved more than 250 new customer design wins, of which more
than 50 percent were with Fortune 100 and Global 500 corporations. Its
larger customers renewed their annual product subscriptions at rates
exceeding 115 percent of original purchases. In the same time period,
MontaVista added several additional Global 500 corporations to its current
list of over 425 customers, including Ericsson, Nokia, ITT and Sony.
UPSIDE has published the Hot 100 Award winners in its June 2002 issue and
has unveiled the winners online at UPSIDE.com at (www.upside.com/hot100)
About MontaVista Software Inc.
MontaVista Software Inc. powers the embedded revolution by providing
open-source systems software solutions for embedded developers. Founded in
1999 by real-time operating system (RTOS) pioneer James Ready, MontaVista
Software¹s principal products include MontaVista Linux® Professional
Edition and MontaVista Linux® Carrier Grade Edition. The Professional
Edition is a Linux-based embedded source and binary distribution, cross
development platform and a set of tool kits for x86/IA-32, PowerPC,
StrongARM, MIPS, SH, ARM, XScale, Xtensa and other microprocessor
architectures. The Carrier Grade Edition is a second-generation high
availability product that is an ideal Linux platform for telecommunications
and carrier-grade applications. MontaVista Software also provides several
complementary technology products addressing specific customer needs such as
the Java development environment, high availability technology, powerful
graphics toolkits and more. MontaVista offers developers a family of
products and services for embedded design and development targeted for
applications ranging from communications infrastructure to consumer devices.
Headquartered in the heart of Silicon Valley, in Sunnyvale, Calif.,
MontaVista Software is a privately held company funded by leading investors
such as Alloy Ventures, US Venture Partners, RRE Ventures, WR Hambrecht +
Co., IBM, Intel Capital, Panasonic and Sony Corporation. For more
information about MontaVista Software, please visit http://www.mvista.com,
email to info@mvista.com or call (408) 328-9200.
Linux is a registered trademark of Linus Torvalds. MontaVista is a trademark
of MontaVista Software Inc. All other names mentioned are trademarks,
registered trademarks or service marks of their respective companies.
Contacts:
Joe Samagond
Director of Marketing and Corporate Communications
MontaVista Software Inc.
Phone (408) 328-9234
E-mail: jsamagond@mvista.com
Patricia Colby
PR Strategy and Business Development
Pacifico Inc.
Phone (408) 293-8600 ext. 340
E-mail: pcolby@pacifico.com
