Neoware, which builds thin-client devices based on Linux and other embedded operating systems, was the third-fastest growing small business over the last three years, according to Reed Business Research and Electronic Business magazine. MontaVista, a leading provider of embedded Linux OSes, tools, and services, also made the list.

Reed Business Research's list, published by Electronic Business, was restricted to companies with net incomes below a quarter of a billion dollars. Criteria included profitability, quarter-to-quarter revenue growth, and future growth potential, along with qualitative attributes such as innovation, leadership, and technology.

Neoware recorded an annual growth rate of over 80 percent over the last three years, netting $17.7 million, $34.3 million, and $57.5 million in 2001, 2002, and 2003, respectively. Neoware maintains its own embedded Linux distribution, Neolinux, which it installs on its thin-client devices, such as the recently announced $199 Capio One.

No financial figures were provided for MontaVista, which, as a privately held company, is not obliged to disclose them. MontaVista was one of only three privately held companies to make the top 30 list, and was ranked 30th.

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