VA Linux Systems, Inc. Changes its Name to "VA Software Corporation"
FREMONT, Calif. December 5, 2001 VA Linux Systems, Inc. (Nasdaq: LNUX) announced at its annual meeting today that shareholders voted to change the Company's name to "VA Software Corporation." The name change is effective immediately.
"Our Board of Directors believes that the name 'VA Software Corporation' better identifies us and our primary business: developing, marketing, selling and supporting the SourceForge collaborative software development (CSD) platform," said Chairman and CEO, Larry M. Augustin. "The Board also believes that the name 'VA Linux Systems' is primarily identified with our former Linux hardware systems and consulting businesses."
About VA Software
VA Software is the provider of SourceForge™, the CSD platform used by more than a quarter million developers worldwide. SourceForge Enterprise Edition helps R&D and IT organizations accelerate development by improving internal visibility and control through a centralized, integrated CSD platform. Information on VA's SourceForge enterprise software product, services and support is available at www.vasoftware.com.
Note Regarding Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding VA's: future financial performance and results of operations, including anticipated revenue, cash usage and net loss from operations; technological trends in and emergence of collaborative software development; the future functionality, market acceptance and adoption of, business potential and demand for, and efficiencies created by SourceForge enterprise software; management's strategy, plans and objectives for future operations; the impact of our restructuring, reductions in force and new business model on our operating expenses and the amount of cash utilized by operations each quarter; our intentions and strategies regarding customers and customer relationships; our intent to continue to invest significant resources in software development; our intent to develop long-term relationships and strategic alliances; competition, competitors, the bases of competition and our ability to compete; liquidity and capital resources; and sales strategy and anticipated benefits from such strategy. Actual results may differ materially from those expressed or implied in such forward-looking statements due to various factors, including: unforeseen expenses that VA may incur in future quarters; the possibility that VA will not identify sufficient sources of expense reduction; VA's quarterly sales cycle and fluctuation in demand for VA's products and services; competition with, and pricing pressures from, more established competitors; VA's success in expanding its SourceForge enterprise software business; the risk that VA's restructuring efforts will not succeed; VA's ability to successfully attract, retain and motivate employees; the possibility of further deterioration in the general economy and its impact on VA and its current and potential customers; VA's reliance upon strategic relationships with other companies and its ability to negotiate, close and implement specific terms relating to them; rapid technological and market change; future guidelines and interpretations regarding software revenue recognition; and VA's ability to protect and defend its intellectual property rights. Investors should consult VA's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended July 28, 2001, for further information regarding these and the other risks of the Company's business. These documents are available at the SEC Web site: www.sec.gov. VA assumes no obligation to update the forward-looking information contained in this news release.
Note to editors: VA Software and SourceForge are trademarks of VA Software Corporation. Linux is a trademark of Linus Torvalds. All other trademarks are property of their respective owners.
Marla Kramer, Media Relations
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