TITLE

Wall St. firms increasingly tag Linux IT

AUTHOR(S)
Jain, Anita
PUB. DATE
June 2004
SOURCE
Crain's New York Business;6/7/2004, Vol. 20 Issue 23, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
A couple of years ago, economic pressures forced Wall Street, New York City-based firms to look for ways to cut their steep technology costs. Many chose to convert some of their applications to the cheaper Linux operating system, saving millions of dollars in hefty licensing fees and related hardware costs. Today, every major investment bank, including Merrill Lynch & Co. Inc., Goldman Sachs & Co., Morgan Stanley & Co. Inc. and J.P. Morgan Chase Corp., has adopted the once anti-establishment Linux on a portion of its servers, the large machines that run powerful applications for a company's network of computers. Microsoft Corp. has yet to forfeit significant market share to Linux, but the software giant could eventually be locked out of the server market by Linux's rapid ascension.
ACCESSION #
13428765

 

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