Ubuntu Founder Mark Shuttleworth Has No Plans Of Selling Canonical

Share on twitter
Share on whatsapp
Share on facebook
Mark Shuttleworth

A couple of weeks ago IBM announced its plan to buy Red Hat for $34 billion. Following that, experts started speculating that rival companies like Canonical and Suse would sell as well.

However, Canonical’s founder, Mark Shuttleworth, doesn’t seem to have any plans of selling the company — at least not in the near future. In an encounter with TechCrunch, he said, “I value my independence.”

One of the reasons behind this decision is that he doesn’t really need the money. But another big reason for not selling is his vision for Canonical and Ubuntu, which he would like to see through personally.

There was a time when Shuttleworth sold his company Thawte Consulting to Verisign for a whopping $575 million nearly two decades ago. But it’s clear that he has no intention of doing that again when it comes to Canonical.

Even though Shuttleworth doesn’t think that selling the company is necessary at this point, a takeover could surely ensure better monetary reward for Canonical’s employees.

However, he admits that the only situation where he would agree to sell the company is one which “accelerate(s) his vision for Canonical.” It is well known that the CEO aims to take Canonical to IPO, but they need to hit the right numbers to make it possible.

Also Read: Intel Speeds Up Its First 5G Modem Chip Production
Manisha Priyadarshini

Manisha Priyadarshini

An Editor and a Tech Journalist with a software development background. I am a big fan of technology and memes. At Fossbytes, I cover all aspects of tech but my specific area of interest is Programming and Development.

New on Fossbytes

Scroll to Top