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Red Hat has blazed a path for all open source software (OSS) companies to follow after it raked in US$1.13 billion in the fiscal year of 2012--making it the first pure-play open source company to hit the billion dollar revenue milestone.
Jeffrey Hammond, principal analyst at Forrester Research, said the company has proven it can go toe-to-toe with the enterprise market's big boys by signing customers up to use its OSS products for mission-critical processes.