Stocks: (MSFT)(NOVL)(RHAT)
RedHat was supposed to be on its way out. The largest supplier of Linux open source products to corporations was going to be crushed by rival Novell after its signed a deal with Microsoft to joint market Linux and Windows. Open source programmer where upset by the deal, but Microsoft is prepared to put up hundreds of millions of dollars to support it.
Well, perhaps large corporations who want open source operating systems want to avoid a Microsoft-funded venture. Fox. Chicken hous.
RedHat reveue took off in the last quarter. RedHat added 12,000 new customers in the quarter and revenue was up 45% to $108 million.
The stock, which fell to under $14 on the Novell/Microsoft tie up hit over $20 after hours.
Microsoft’s attempt to move into the world of Linux is not looking very good now.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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