Red Hat files for IPO

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Red Hat Inc., a leading developer of open source software and services based on the Linux operating system, said last Friday it has taken steps toward an initial public offering (IPO) of all of its stock.

The company said it has filed a registration statement with the U.S. Securities and Exchange Commission for the IPO.

Red Hat has emerged as a leading vender of the increasingly popular Linux open source operating system. Other companies include Pacific HiTech, which has said it's changing its name to TurboLinux; SuSe Holding AG; and Caldera Systems Inc.

No date for the sale has been established, the company said.

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