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Sure, Red Hat's (NYSE:RHT) most recent financial results, announced March 29, didn't blow away investors. But the future looks bright. The reason: Open source application developers continue to gain serious momentum. And many of those developers are firmly committed to Red Hat.

One prime example: Cupertino, Calif-based SugarCRM Inc. says more than 230 applications, extensions and modules are now available on the company's SugarExchange market place. The online exchange, launched in October 2006, allows software developers to list and sell their products to customers. More than 7,000 transactions have been brokered so far.

Sure, SugarCRM and many of its partner applications run on Microsoft (NASDAQ:MSFT) Windows. Some even deploy on Novell (NASDAQ:NOVL) SuSE Linux. But let's be honest, folks: When customers and developers think of SugarCRM's products, most of them think of software designed for Red Hat Linux and MySQL, the open source database. The SugarExchange now includes applications for HR management, compensation management, mobile access and telephony integration, among others.

It's a safe bet that Red Hat, SugarCRM and the open source community will gain further momentum in the weeks ahead, as thousands of software developers and customers flock to three major conferences: The MySQL Conference and Expo (April 23-26), The SugarCRM Global Developers Conference (May 3-5) and The Red Hat Summit (May 9-11).

And within the next few months, watch for Red Hat to launch its own online exchange, which will allow customers and partners to purchase integrated software solutions--including MySQL and SugarCRM solutions.

Source: Open Source Community Gains Momentum - Good News for Red Hat