Today, Embedded Linux supplier Lineo announced that it has withdrawn its planned IPO due to current market conditions. Lineo will issue a formal statement later today regarding their decision; watch for it here, shortly.

Stephen Shankland, editor of CNET News.com, interviewed Lineo CEO Bryan Sparks earlier today regarding the change in IPO plans. Shankland writes . . .

“Lineo on Friday withdrew its plans for an initial public offering, a sign that investor pessimism has swept into a previously optimistic part of the Linux landscape.”

“Lineo, which had filed in May to go public, is working to put Linux in set-top boxes, network routers and other non-PC 'embedded' computing devices. Even as the regular Linux market lost its luster and other Linux companies consolidated, the embedded market attracted many new start-ups and two IPO filings.

” 'We decided to pull it,' Chief Executive Bryan Sparks said in an interview. 'We had a board meeting on Wednesday and we discussed market conditions the last couple months. We think the IPO window is closed.' “

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