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Intel, Netscape Take Stakes in Red Hat

NATION / WORLD: TECHNOLOGY

September 30, 1998| Bloomberg News

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. Research Triangle Park, N.C.-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 manufacturer of microprocessors, 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. Mountain View-based Netscape's shares fell $1 to close at $23 and Santa Clara-based Intel's shares rose $1.50 to close at $88.50, both on Nasdaq.

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