TimeSys Corp. reports that it has concluded an over-subscribed $8 million round of funding that it will use to pursue its long term strategy of
building embedded Linux development tools. Led by Adams Capital Management, the round's additional investors include The Hillman Company, Philips
Electronics (a division of Royal Philips Electronics), and TimeSys CEO Larry Weidman.
TimeSys says the investments will fund continued expansion of its embedded Linux development tool set. The company currently offers free "ready to
run" software development kits for 70-plus certified hardware platforms. It has added support for new platforms steadily during what it calls "four
quarters of growth."