TimeSys Expands Embedded Linux Tools with $8 Million Funding

10/23/2003 - TimeSys(R) Corporation, a leader in embedded Linux(R) and development tools, announced that it has closed an $8 million round of funding led by Adams Capital Management. Additional investors participating in this round include The Hillman Company, Philips Electronics (a division of Royal Philips Electronics (NYSE: PHG, AEX: PHI)), and TimeSys CEO, Larry Weidman.

TimeSys will use its latest round of funding to continue expansion of its embedded Linux development tool set, which allows companies to streamline and simplify the development of Linux-based embedded systems by supporting engineers at every step of the development process.

"Pursuing our long term strategy of focusing on developers' needs has resulted in significant growth in customer wins, new partnerships, increased revenues, and overall market traction," said TimeSys CEO Larry Weidman. "Our investors recognize this success and their continued financial support will help us continue to meet the needs of embedded engineers working with Linux."

About TimeSys Corporation
TimeSys is a pioneer and leader in Embedded Linux and development tools for the embedded systems industry. Through "ready to run" software development kits design engineers can leverage certified, hardware-specific, open source embedded Linux and single-kernel Linux real-time operating systems, a complete range of Windows- and Linux-hosted development tools and a full range of performance enhancements to develop advanced embedded systems. TimeSys products support the entire range of performance requirements from non-real-time to deterministic hard real-time, and add unique reservations technologies that guarantee system response, even in overload conditions. TimeSys offers "ready to run" SDKs for more than 70 specific hardware platforms spanning 8 processor architectures and 35 unique processors. TimeSys technologies are utilized in a wide variety of industries and applications, from industrial/process control and consumer electronics to military and avionics. For more information about TimeSys, please visit http://www.timesys.com, send email to info@timesys.com or call 1-888-432-TIME.

TimeSys, TimeTrace, TimeWiz, TimeStorm and JTime are trademarks or registered trademarks of TimeSys Corporation in the United States and other countries.

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