TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: SSP who wrote (14355)	11/16/1999 1:36:00 AM
From: Jim Bishop	Read Replies (3) of 150070

RHAT news RESEARCH TRIANGLE PARK, N.C. (Reuters) - Red Hat Inc (Nasdaq:RHAT - news)., the leading distributor of Linux software, said Monday it plans to buy Cygnus Solutions in a stock deal valued at $674 million. The merger would combine Red Hat, the leading supplier of Linux software used to power servers -- the computers that run Web sites -- with privately-held Cygnus, a supplier of Linux software programming tools, with strength in software used to run handheld devices including cellphones and mobile computers. Cygnus software can also be used to power tiny computers embedded in other devices that control everything from car brakes to refrigerators and elevators. The transaction price is based on Red Hat's Friday closing price of 101-13/16 on Nasdaq. Red Hat plans to issue up to 6,624,344 shares for the outstanding Cygnus securities. The transaction, which is subject to approval by the U.S. Justice Department and Cygnus shareholders, is expected to close Jan. 27, Red Hat said. Matthew Szulik, the president of Red Hat, would lead the combined companies as president and CEO. The Linux operating system is a growing alternative to Microsoft's Windows software. The programming code is freely available to users. Companies like Red Hat make money by charging for services required to install and maintain the software.

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