LinuxWizardry Systems Announces Private Placement for Linux-Based Router Development

Strategic Insights -

LinuxWizardry Systems, Inc., a developer of Linux-based low-cost routers, has announced a private placement of $5,000,000 to finance the development and production of its Linux Apprentice router. The company plans to release the beta version of the router in April 2000 and a commercial version by June 2000. The LinuxWizardry router is designed to be user-friendly and affordable, making it an attractive option for small to medium businesses that want to manage their network without the need for expensive network specialists.

Key Takeaways:

  • LinuxWizardry Systems has secured a private placement of $5,000,000 to fund the development of its Linux-based low-cost router.
  • The company plans to release a beta version of the Linux Apprentice router in April 2000 and a commercial version by June 2000.
  • The LinuxWizardry router will be a user-friendly and affordable solution for small to medium businesses to manage their network.
  • The router business is currently dominated by Cisco Systems, with a market share estimated to be significant.
  • LinuxWizardry Systems, Inc. is a fully reporting company on the OTC Bulletin Board, with headquarters in British Columbia, Canada.
  • The company owns a 100% stake in LinuxWizardry, Inc., which develops and manufactures Linux-based enterprise software and hardware for end-to-end networking solutions.

Statistics:

  • The Linux operating system now powers 31% of all web servers.
  • IBM, Sun Microsystems, Dell Computers, and Intel are investing in Linux-based businesses and creating products to support the operating system.
  • The router market is currently dominated by Cisco Systems, with significant market share.
  • LinuxWizardry Systems has secured a private placement of $5,000,000 to fund its router development.

Sources:

  • LinuxWizardry Systems, Inc. Press Release, March 27, 2000
  • Business Wire, March 27, 2000
  • OTC Bulletin Board, Symbol: LNXWF
  • LinuxWizardry, Inc. website, www.linuxwizardry.com
  • VA Linux, Red Hat, and IBM financial reports