Wednesday, November 30, 2005
SCO Replenishes Warchest
Lindon Utah-based SCO Group said today that it has raised $10M in a private placement to institutional investors. The company said that it sold the shares to its existing institutional shareholders and a member of the company's board of directors. SCO indicated that the proceeds would be used to pursue its existing business, including the company's legal efforts. SCO has been embroiled in a controversial campaign to force licensing of source code it says has been incorporated into the open source Linux operating system. The firm has lawsuits filed against IBM, Redhat, and Novell, along with attempting to force end users of Linux to license its technology.