Red Hat finds home in heart of capitalism

Microsoft chairman Bill Gates once likened the open-source movement to communism, but there was little evidence of that on Tuesday when Linux specialist Red Hat took over the New York Stock Exchange.

Red Hat's chief executive Matthew Szulik was on hand to ring the Exchange bell to announce the beginning of the day's trading at the $23 trillion (£11.7tn) exchange and announce that his company was now listed on the NYSE, rather than its previous home on the Nasdaq.

"It's been a long time coming and great honour for our shareholders. The global recognition of the NYSE and Red Hat make a great combination," said Szulik.

Red Hat finds home in heart of capitalism.