Navarre Signs Sixth Linux Distribution Deal
Sep 3, 1999 12:00 AM PT
Navarre (Nasdaq; NAVR), a business-to-business e-commerce company that offers music and software, announced today that it has entered into a distribution deal with Linux developer tools provider Cygnus Solutions. The deal is Navarre's sixth distribution agreement for the Linux operation system and related products.
"In the past year we have shipped Linux operating systems and related products from Red Hat, Caldera SuSe, Corel and MacMillan Publishing, " said Eric Paulson, CEO and president of Navarre. " The addition of Cygnus to our Linux supplier lineup solidifies our position in this growing market segment.''
Big Customers For Cygnus
Cygnus specializes in open-source software. The company offers end-to-end software solutions, including embedded and desktop development tools and real-time operating systems. Cygnus also offers customer-engineering services.
The company's customers include a veritable Who's Who of technology heavyweights. Customers include Microsoft, IBM, Intel, Cisco Systems, Motorola, NEC, Sony, Oracle, Panasonic and Toshiba. Cygnus' customers also include big companies in other sectors such as telecommunications companies Nortel and Lucent. Toyota is also a customer.
Now, with this Navarre deal, Cygnus is focusing on reaching smaller customers.
"It is our intention to expand Cygnus' strategic leadership role in the deployment of Linux software to the consumer channel," said Ian Warfield, vice president and general manager for Navarre's computer products division.
Navarre Investors Still Waiting for NetRadio IPO
Shares of Navarre were up 13/32 to 9-9/16 in early trading today after the news, but the stock is still well off its 52-week high of 27. A lot of Navarre investors have been waiting a while for NetRadio, the online radio broadcaster that has Navarre as a shareholder, to go public. NetRadio filed for its initial public offering in March, but it's still unclear when the company's actually going to go public.
Last week, NetRadio announced that it was boosting the number of the share in its IPO from 3.3 million to 4 million, with a price range of $11 to $13. This is certainly a sign of bullishness given the current uncertainty in the IPO market. NetRadio also announced a new underwriting team. Gerard Klauer Mattison & Co. is now the lead underwriter, and The Advest Group is the co-manager for the offering.
NetRadio says it is accessed by more than 1 million unique users each month. The online radio broadcaser offers 120 channels of music and information on demand, 24 hours a day. The site offers 15 interactive music communities for genres including modern rock, vintage rock, jazz, new age and classical. The site also offers online shopping powered by music store CDPoint.