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Intel, Netscape Take Stakes in Red Hat

September 30, 1998| Bloomberg New s

Intel Corp. and Netscape Communications Corp. have taken stakes in closely held Red Hat Software Inc. to promote the company's software. Financial terms of the agreement weren't disclosed. North Carolina-based Red Hat sells software products and services related to Linux, a free operating system available on the Internet that competes against Microsoft Corp.'s Windows. The investment by Intel, the world's largest chip maker, and Netscape, the No. 1 maker of browser software, in Red Hat shows their support for an alternative to Microsoft, which powers more than 90% of the world's personal computers. Red Hat also said it is establishing an enterprise computing division to offer corporate applications software and services. On the Nasdaq, Mountain View-based Netscape's shares fell $1 to close at $23 and Santa Clara-based Intel's shares rose $1.50 to clsoe at $88.50.

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