SAN JOSE, California & PITTSBURGH, Pennsylvania – December 12, 2023 - Lynx Software Technologies (Lynx), a leader in the development of foundational, open architecture software solutions for the Mission Critical Edge, today announced the acquisition of Timesys Corporation (Timesys), a provider of development tools, cybersecurity solutions, and differentiated software engineering services for open-source embedded and edge software applications.
For over 20 years, Timesys has been an industry leader, helping customers build, secure, test, and maintain Linux-based and other open-source edge and embedded software solutions. Over 200 clients across aerospace, defense, industrial, medical, and enterprise end-markets rely on Timesys’s Linux expertise and developer productivity and security solutions to ensure on-time and on-budget delivery of reliable, secure, open-source software products. Central to this has been Timesys’ value-added developer productivity and cybersecurity solutions, including software composition analysis (“SCA”) tools that enable the production and management of software bill of materials (“SBOM”) and managed service offerings tied to Linux distribution and open-source software lifecycle management.
“Lynx’s mission is to improve the economics of designing, deploying, and servicing high-assurance edge software solutions,” commented Tim Reed, Chief Executive Officer of Lynx. “Increasingly, our customers leverage Linux-based solutions alongside safety-critical software within mixed-criticality systems. The addition of Timesys’ development and cybersecurity tools and its Linux engineering services enable Lynx to support our customers more effectively across a full spectrum of complex edge and embedded software needs. I’m thrilled to welcome the Timesys team to the Lynx family.”
The combination of Lynx and Timesys creates a scaled software solution provider focused on Mission Critical Edge and embedded software applications for customers with the most demanding reliability, security, and interoperability needs. With the addition of products and services offered by Timesys, the LYNX MOSA.ic platform will be able to deliver incremental value, functionality, and security to mixed-criticality systems requiring the real-time software determinism of Lynx’s core IP and the flexibility of the Linux open-source platform. All products currently offered by Lynx and Timesys will remain available and supported.
“Lynx’s products are built on a foundation of openness, efficiency, and flexibility, which aligns strongly with our core focus on open-source software ecosystems,” said Atul Bansal, Chief Executive Officer of Timesys. "The Timesys team is excited to join the Lynx platform and leverage the Lynx’s scaled corporate infrastructure, go-to-market resources, and technical expertise while providing our expertise in Linux-based software solutions to further the differentiation of our combined portfolio of offerings.”
CEO ally, Inc. acted as exclusive M&A advisor to Timesys.
About Lynx Software Technologies
Lynx Software Technologies, an OceanSound Partners portfolio company, is on a mission to improve the economics of developing, deploying, and maintaining high-assurance Mission Critical Edge platforms with modular software solutions based on open standards. Our proven technology leadership, extensive system certification expertise, and commitment to open standards have consistently saved our customers millions of dollars in development costs while delivering desired system performance, security, and reliability on schedule. Lynx is committed to enabling customers to build and manage orchestrated, cloud-connected platforms that harness a broad array of modern technologies and unique design methodologies to enable accurate, deterministic decisions at the Mission Critical Edge without compromising safety or cybersecurity requirements. For more information, visit www.lynx.com.
About Timesys
Timesys is a pioneer and industry leader in open-source software security solutions, development tools, and engineering services and consulting, spanning the embedded software market. With Timesys’ expertise, customers are able to reduce development costs and accelerate time-to-market for edge devices and IoT systems and applications using embedded Linux, Android, FreeRTOS, Zephyr, and other open-source solutions. For more information, visit www.timesys.com.
About OceanSound Partners
OceanSound Partners is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle market businesses to drive transformational growth. For more information, visit www.oceansoundpartners.com.
For Lynx
Kirsten Nelson
Lynx Software Technologies, Inc.
+1 (408) 206-5753
knelson@lynx.com
For OceanSound Partners
Charlyn Lusk
Stanton
+1 (646) 502-3549
clusk@stantonprm.com
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Lynx Software Technologies: November 21, 2024 10:06:41 AM PST
