Pittsburgh, PA – June 15, 2005 – TimeSys® Corporation, the leading provider of Linux Customization Solutions for the embedded device market, today announced that it has closed a $6 million round of funding led by Adams Capital Management. Other participants in the round include The Hillman Company and Philips Electronics (a division of Royal Philips Electronics (NYSE: PHG, AEX: PHI).
TimeSys will use the funds to expand its reach among the rapidly growing number of developers choosing Linux as their embedded device development platform. Embedded devices are found in a diverse range of industries, including telecommunications, consumer electronics, industrial control/process automation and military/aerospace.
Recently introduced Linux Customization Solutions from TimeSys dramatically reduce the time, effort and cost of building an embedded device using Linux. Linux Customization Solutions are the first secure, network-based components and automated systems that aid developers in their efforts to customize Linux to meet the unique feature, footprint and hardware requirements of their embedded device.
"TimeSys is enabling device developers to create commercial-grade custom Linux platforms with a new generation of automated tools and systems,” said Larry Weidman, president and CEO of TimeSys. “Our investors recognize this market opportunity and have provided funding that will be used to execute an aggressive, global market development strategy."
About TimeSys Corporation
TimeSys empowers developers to create custom Linux distributions that meet the unique feature, footprint and hardware requirements of their embedded devices. TimeSys provides processor-optimized Linux distributions, development and test tools and Linux customization solutions delivered through the TimeSys Network. The continuously updated components, systems and information available through the secure, hosted TimeSys Network significantly reduce the time and resources required to produce and maintain commercial grade custom Linux platforms. For more information, visit www.timesys.com."