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Red Hat to Keynote at LinuxWorld Event With Morgan Stanley
LinuxworldUnited States, January 21, 2003
Michael Tiemann of Red Hat will be joined by Jeffrey Birnbaum of Morgan Stanley to discuss the importance of architecture in the enterprise
During the presentation, Birnbaum will explain how the architecture Morgan Stanley engineered in 1995 enabled the Unix-to-Linux migration they undertook in 2001. Michael Tiemann will discuss how Linux fit within, and ultimately validated, that architecture.
"In the financial services industry today, information technology means money," said Michael Tiemann, CTO of Red Hat. "Better information systems lead to more competitive offerings, which ultimately lead to better financial performance for both clients and the firm.Ã‚ While many TCO studies give textbook-style reasons why enterprises should expect 6x to 16x improvements by migrating from proprietary Unix systems to Linux running on commodity hardware, few have realized these results so rapidly, completely, and with as little risk as Morgan Stanley."
"A growing number of banks and financial firms are adopting Linux primarily in the areas of application integrations and server consolidation. The cost savings between Sun Solaris/SPARC and Linux/x86 can be significant, and a number of banks are following this trend," said Stacey Quandt, Industry Analyst, Giga Information Group. "The ability to reduce software licensing fees is another driver of Linux migrations."
Red Hat will showcase enterprise Linux solutions with key partners and customers during the LinuxWorld Conference and Expo. For more information on Red Hat events and exhibits, please visit http://www.redhat.com or visit booth 838.
About Red Hat, Inc.
Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training and consulting services to its customers worldwide and through top-tier partnerships. Red Hat's open source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more: http://www.redhat.com
Forward-looking statements in this press release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release that are not strictly historical statements, including, without limitation, management's plans and objectives for future operations, and management's assessment of market factors, constitute forward-looking statements which involve risks and uncertainties. These risks and uncertainties include, without limitation, reliance upon strategic relationships, management of growth, the possibility of undetected software errors, the risks of economic downturns generally, and in Red Hat's industry specifically, the risks associated with competition and competitive pricing pressures, the viability of the Internet, and other risks detailed in Red Hat's filings with the Securities and Exchange Commission, copies of which may be accessed through the SEC's Web site at http://www.sec.gov.
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