MontaVista Software Acquires Korean Company
MontaVista Software, Inc. announced that it has purchased a Seoul-based company to meet the growing demand from Korean device manufacturers and software developers for MontaVista embedded Linux software and services. The announcement was made at a press conference in Seoul.
MontaVista Software Korea Co., Ltd. was established four years ago as a joint venture between MontaVista and other investors. It has been acquired in full by MontaVista Software, Inc. The entire sales and services staff have become employees of MontaVista Software, Inc., and will help MontaVista support Samsung, LG Electronics, ETRI, and its other Korean customers in the use of MontaVista Linux to quickly produce innovative new electronic devices and embedded applications.
"We are impressed by the rapid growth in the number of Korean companies that have selected MontaVista Linux," said Tom Kelly, president and CEO of MontaVista Software. "We expect to sign more than 50 agreements with 30 different Korean companies this year alone. We are making this investment to build closer relationships with our Korean customers, and with the markets they help drive."
The former Korean joint venture is now a wholly-owned subsidiary of MontaVista Software, Inc. It will provide sales, support, and consulting engineering services to electronic device designers, helping them use MontaVista DevRocket development tools to customize MontaVista Linux and implement new devices and software platforms running on MontaVista Linux open-source operating system software.
MontaVista has hired Young-Hoon Yoo as Korea Country Manager. The former head of South Korean operations for WebMethods and EMC Documentum, Yoo also managed telecommunications business development in Asia for Cadence Design Systems.
"We are working on making a seamless transition for our customers, partners, and employees to MontaVista ownership," said Yoo. "Now, with direct access to MontaVista's corporate resources, we are ready to address the growth in demand for MontaVista embedded Linux operating systems, development tools, and support services.