Open Source Firm Red Hat on the S&P 500

Standard & Poor's has announced that open source software firm Red Hat will replace CIT Group Inc. on the S&P 500 Index.  Quite an achievement for a firm started with a completely new business model in 1995.  Red Hat Linux started when Marc Ewing created a distribution of Linux which he named Red Hat Linux and released in October 1994.  In 1995 Bob Young bought Marc Ewing's business, merged it with his own firm and renamed the new company Red Hat Software.  Red Hat Linux 2.0 was released the same year.  You can find out how Red Hat got its name here, right from the horse's mouth.