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VA new investment telegraphs another Linux IPO?

Shrewd fellows - get some money now and hold off for a little longer to maximise the bang

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Do we spot Linux IPO number two on the horizon? If so, VA Linux Systems seems to be aiming for bigger bucks than Red Hat; it's cannily pulling in more money in second round finance, the general idea under those circumstances usually being to increase the value of the company in order to go for a bigger jump at IPO stage. VA is raising $25 million from a prestigious crowd, including SGI, Intel and Sequoia (both back for a second invest), and a string of VC outfits you'd only get bored reading if we listed them all. Intel's continuing interest is understandable, while SGI's is a wee bit intriguing. SGI is of course switching to Intel, so needs to back some of the same horses Intel backs. VA itself is working on a 64-bit version of Linux for Merced, which is of interest to both companies. Once Merced and VA's Linux implementation are available, VA will no doubt look exceedingly bankable. So a bit of second round now with a view to an IPO a little later looks eminently sensible. ®

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