Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

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