Thursday, February 14, 2008
SCO Group Goes Private In $100M Deal
Lindon, Utah-based The SCO Group, which develops UNIX software, said Thursday that the firm is going private in a $100M deal with Stephen Norris Capital Partners. According to the firm, which is best known for its lawsuits against IBM contending its source code was used in the Linux open source operating system, Stephen Norris Capital Partners and unnamed partners from the Middle East will provide up to $100M to reorganize the firm and allow the firm to emerge from Chapter 11 bankruptcy. SNCP will take a controlling interest in the firm. SCO Group said that the funding will go towards unveiling new product lines, and also so the company can see its legal claims through to their full conclusion.