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By Stephen Shankland
Posted on ZDNet News: Apr 17, 2007 8:24:00 PM

Mandriva, a struggling seller of the Linux operating system, is in the process of raising "a minimum of 3 million euros," or $4.1 million, the French company said Monday. The funds will be used to exit bankruptcy protection and to complete the acquisition of server software company Linbox, a merger the companies agreed upon in September 2006 but have been unable to complete.

The bulk of the money is from OCCAM Capital, a European investment fund that focuses on computing and telecommunications markets, which is donating 2 million euros and getting two seats on Mandriva's board. More funds are from earlier investors, including Millennium Partners, Windhurst Participation, and two executives, Jacques Le Marois and Francois Bancilhon. All shareholders will be eligible to participate on similar terms.

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Hey now
I love Linux. It's free, it's functional, and if I ever ever wanted to tinker around with the underlying code, it's not hidden, proprietary and closed off to such. Linux may not enjoy cash drowning ... (Read the rest)
Posted by: Boot_Agnostic Posted on: 04/18/07 You are currently: a Guest | | Terms of Use
Mandriva raising new funds for Linux business  Loverock Davidson | 04/17/07
Hey now  Boot_Agnostic | 04/18/07

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