Featured Articles

Intel refreshes CPU roadmap

Intel refreshes CPU roadmap

Intel has revealed an update to its CPU roadmap and some things have changed in 2015 and beyond. Let’s start with the…

More...
Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 26 October 2007 13:37

SCO Group proposes sale of UNIX assets

Written by David Stellmack

Image

Hopes to get $36 million


The
SCO Group is currently in Chapter 11 federal bankruptcy reorganization protection and there has been considerable speculation as to whether or not SCO Group can or will continue as a company. 

Stories are circulating that SCO Group has found a buyer and hopes to sell its UNIX assets to York Capital Management for up to $36 million, pending approval by the bankruptcy trustee. According to bankruptcy and regulatory filings, York would reportedly provide SCO with the following:  $10 million in cash; up to $10 million in credit to fund its legal fight against Novell and IBM and to get 20 percent of revenue from that action; $10 million for a 20 percent stake in the company; and $6 million to license the Hipcheck products from SCO's Me mobile device software effort and to share revenue from that business endeavor.

SCO has been engaged in drawn out, expensive and thus far futile lawsuits against Novell and IBM.  It urged the bankruptcy court to approve an accelerated bidding process/auction for its assets. The auction would allow other bidders to offer a higher price than York, but only if the auction is conducted within a short time period, according to SCO pleadings that were filed.

Read more here.


Last modified on Friday, 26 October 2007 14:16

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments