Writing at LinuxGram.com, Raga Rao reports that MontaVista Software has defied the current slow economy and raised an additional $28M of funding from an investor group which includes Sony, Panasonic, IBM, and an unspecified major computer company. According to Rao, MontaVista CEO Jim Ready called the story inaccurate but wouldn't elaborate. “If true,” says Rao, “the new round takes MontaVista's financing to over $60 million.”

The LinuxGram article quotes a leaked MontaVista internal memo from Ready as saying “Based on our financial projections, the $20.5 million will take us to cash flow positive with a small cash cushion left over. On top of this amount we also have opportunities for various forms of debt financing. This should put to rest any concerns about MontaVista's financial viability.”

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