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MontaVista $20 million funding round rumored

Nov 8, 2006 — by LinuxDevices Staff — from the LinuxDevices Archive — views

MontaVista has lined up “Round G” funding of $20 million, including $6 million from Siemens, according to anonymous sources close to the company. The company has reportedly sent out prorata letters offering existing stakeholders the chance to maintain their percentage-of-ownership by participating in the latest round.

MontaVista marketing officials declined to comment on the rumor, while CEO Thomas Kelly did not return a phone call about the matter by publication time.

If it closes, the latest funding round would bring the number of outstanding MontaVista shares to about 100 million, one source said. It would also bring the amount of money invested in the company close to the $100 million mark.

The privately held company last reported investments in December of 2004, when Japanese telco giant NTT DoCoMo took a $3 million equity stake, and in April, 2004, when four companies, including Siemens Venture Capital, Samsung Ventures America, Infineon Ventures, and China Development Industrial Bank invested $7 million.

After nearly a year of radio silence, MontaVista appointed a new CEO in June, and has since announced a “real-time” customer win in private radio networking, a BSP for dual-core Freescale chips (board-support package), and a dot-revision of its mobile phone stack aimed at supporting less expensive hardware.

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