TimeSys Closes $15.5 Million in Venture Round Led by Adams Capital Management, With Participation from The Hillman Company, Sun Microsystems, Inc., Philips Electronics and Nissin Systems

Pioneer of Real-Time Embedded Linux Technology Prepares for Rapid Growth

And Market Leadership

Mar 11, 2002, 00:00 ET from TimeSys Corporation

    PITTSBURGH, March 11 /PRNewswire/ -- TimeSys Corporation today announced
 that it has secured $15.5 Million in equity financing.  Adams Capital
 Management led the round with participation from The Hillman Company, Sun
 Microsystems (Nasdaq:   SUNW), Philips Electronics, a division of Royal Philips
 Electronics (NYSE:   PHG; AEX: PHI), and Nissin Systems.  Larry Weidman,
 TimeSys' CEO also participated in the round with a personal investment.  Funds
 from these strategic investors and two leading national venture capital firms
 provide TimeSys with the capital necessary to execute its aggressive product
 strategy and bring the technology it pioneered into the marketplace. "With a
 significant round of funding from these strategic investors, we're about to
 make our revolutionary products more relevant and widely available," said
 TimeSys CEO Larry Weidman.
     Design and analysis tools for Embedded Linux and Java(TM) are in greater
 demand within telecommunications, automotive and aerospace, industrial/process
 control and military sectors.  Technology leaders in these market segments are
 placing significantly greater functionality and performance requirements on
 their systems.  The industry has responded with both proprietary and open
 solutions, some offering true real-time capabilities while others can't.
 TimeSys is the leading vendor of development tools that allow customers to
 build true real-time functionality in systems in Linux or Java.
     Lead investor Joel Adams, general partner at Adams Capital Management
 stated, "The open source market has been of interest to us for some time and
 TimeSys allows us to access this movement while maintaining a proprietary
 software business model. TimeSys directly benefits from discontinuities
 created by the emergence of open architecture and interoperable standards.
 Its product positioning is unique as the reference platform of choice for
 real-time applications in both the Linux and eventually the Java communities."
     "We expect embedded, real-time Linux and real-time Java will become
 increasingly important to our network equipment provider, telecommunications
 service provider and wireless infrastructure customers as they develop the
 functionality of their applications.  Building robust applications based on
 real-time technologies requires tools and runtime environments that lead the
 industry," said Brian Sutphin, vice president of Strategic Investments for Sun
 Microsystems.  "TimeSys has considerable expertise in developing real-time
 Java, real-time tools and real-time operating environments.  We expect
 TimeSys' offerings ultimately will bring Java's many benefits -- including
 ease-of-use, application portability, fast time-to-market and low cost of
 ownership -- to real-time, embedded applications."
     Rene Savelsberg, vice president of corporate venturing, Philips
 International added, "Open, reliable and ready to use software tools are key
 to the future of our embedded systems technology development efforts. The
 investment in TimeSys is a strategic investment that positions Philips to meet
 increasing customer demand for superior Linux-based consumer electronics
     A Global Leader
     Among the investors in TimeSys is its strategic partner Nissin Systems
 Company in Kyoto, Japan.  Nissin is an embedded systems integrator and key
 marketing and technology partner in one of the world's most demanding markets.
 Nissin System's President Osamu Nakamura said, "TimeSys is providing
 technology that allows our customers to build and deploy mission critical
 systems with the utmost confidence and minimal lead time to get the systems
 running.  We believe that TimeSys Linux is the best choice of robust and high
 quality embedded Linux and that their out of the box solutions give our
 customers a significant advantage in the market."
     TimeSys Products
     TimeSys is committed to providing its customers with either open source or
 proprietary tools specific to the unique demands of their customers.  TimeSys
 develops and distributes design, development and analysis tools for Embedded
 Linux and Java as well as Embedded Real-Time Linux and Java.  TimeSys Linux
 GPL is a full Linux distribution for all supported embedded boards that
 includes everything needed to develop, deploy, and maintain an embedded
 platform.  For each board, this distribution includes not only the world's
 lowest-latency Linux kernel, but also all the libraries, tool chains,
 utilities, drivers, scripts, and documentation, all distributed under the GNU
 Public License (GPL).  TimeSys Linux GPL is now available for embedded boards
 based on the UltraSPARC(TM), PowerPC, ARM, Super-H and XScale(TM) processor
     About TimeSys
     TimeSys is a pioneer and leader in Embedded Linux and Java development
 technologies.  Its products allow design engineers to leverage the power,
 flexibility and reliability of a new class of development tools for advanced
 embedded systems for a variety of markets and applications.  TimeSys is
 considered the top choice by systems architects for developing more robust,
 less expensive, single API Linux solutions for embedded systems. TimeSys was
 the first to create a reservation technology that guarantees system response,
 even in overloaded systems.  TimeSys solutions offer completely predictable
 and fast response time performance. For more information about TimeSys, please
 visit http://www.timesys.com email to info@timesys.com or call 1-888-432-TIME.
     Sun, Sun Microsystems, the Sun logo and Java are trademarks or registered
 trademarks of Sun Microsystems, Inc. in the United States and other countries.
 All SPARC trademarks are used under license and are trademarks or registered
 trademarks of SPARC International, Inc. in the United States and other
 countries.  Products bearing SPARC trademarks are based upon an architecture
 developed by Sun Microsystems, Inc.
     Intel and Xscale are trademarks or registered trademarks of Intel
 Corporation or its subsidiaries in the United States and other countries.
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SOURCE TimeSys Corporation