NEW YORK (CNN/Money) - Microsoft is developing a new version of Windows for companies that want to better secure their older machines, allowing them to upgrade without buying new ones, according to an industry source.

Code named Eiger, the software is for customers whose older computers are not secure and hard to manage but find that upgrading to standard Windows XP is not an attractive option, CNETnews.com reported Thursday.

"If they wanted to run Windows XP, it really doesn't run very well; it might take 20 minutes to boot," Barry Goffe, a group product manager in Microsoft's Windows client unit, told CNET. "Eiger is a solution we are building, designed specifically for these customers."

Goffe told CNET the product is in the very early stages of product development, with the company this week offering a preview version to a few dozen early customers. He did not give a date for a final launch of the product or say how the company will price it.

Although Eiger will offer security and other improvements, in many cases it won't be as widely capable as the older OS it is replacing, the report said.

Eiger is not intended to be a long-term fix for companies with older PCs, but rather a bridge to Windows XP or perhaps Longhorn, CNET said.

"If they can't buy the hardware now, Eiger is a good solution," Goffe was quoted as saying. "It's really designed to help them bridge the gap. By far, the best solution is for them to buy a new PC with a new OS."

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