LynuxWorks, which changed its name from Lynx Real-Time Systems to emphasise its link to the Linux operating system, sells software for the "embedded" market for non-PC computing devices, such as routers that direct network traffic. The company filed IPO plans in October, hoping to raise about US$70 million by selling stock to the public.
Now the company has withdrawn its plans. "The company has elected not to proceed with the offering due to general market conditions," LynuxWorks chief executive Inder Singh said.
LynuxWorks is one of several Linux companies to back off from its plans. One of its main competitors, Lineo, scrapped its plans in January. Others that canceled IPOs are Turbolinux and Linuxcare.
The only Linux companies to go public while hype for the operating system was still vigorous are Red Hat, Caldera International and VA Linux Systems.
Two others, Andover.Net and Cobalt Networks, were acquired by VA and Sun Microsystems, respectively.
