OpenWatcom is an freeware successor for famous Watcom compiler suite. Open Watcom is an effort to take the commercial Watcom compilers, and turn them into an Open Source Project. When Sybase realised that the Watcom C/C++ and Fortran compilers were no longer commercially viable, they searched around to find a solution for their existing customers. SciTech Software, a long time user of Watcom compiler products contacted Sybase about turning the compilers into an Open Source project, and hence the Open Watcom Project was born.

Michal Necasek has an article describing how to set it up -- [url]