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SCO revives with $100 million investment

updated 03:45 pm EST, Thu February 14, 2008

SCO receives $100 million

Having almost disappeared completely late last year, SCO says it has been resuscitated by a new financing plan. Under the terms of the deal, Stephen Norris Capital Partners and "its partners from the Middle East" will supply up to $100 million, enabling SCO to reorganize and launch a new series of products. SNCP will gain a controlling interest in the company, and take it private, allowing it to slip out of Chapter 11 bankruptcy protection.

SCO first gained infamy by suing IBM and Novell, accusing the two of inserting its Unix code into versions of Linux. SCO suggested, in fact, that it was owed licensing fees by some companies merely using Linux, such as DaimlerChrysler. Observers argued that SCO's real intent was to compensate for its failing business model; in the end SCO not only lost its cases, but saw some Unix copyrights solidified under Novell. The costs of its legal venture led it to declare bankruptcy last September.




by MacNN Staff

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Comments

  1. Flying Meat

    Joined: Dec 1969

    0

    well, that's a fine

    investment. Not with MY money, but sure...

  1. bhuot

    Joined: Dec 1969

    0

    back to the lawsuits

    What are they going to sue open source for now - that was their entire business model? No one in their right mind would buy any products from them.

  1. ZinkDifferent

    Joined: Dec 1969

    0

    huh?

    Who's foolish enough to invest in .... oh, wait "partners from the middle east".

    Figures...

    "You want some good softwares, my friend...?"

  1. bsaxton

    Joined: Dec 1969

    0

    Who is SCO?

    And why do I care?

  1. UberFu

    Joined: Dec 1969

    0

    again MacNN?

    Wht the f*** is this on your Mac News Site?

    How does this have any damned thing to do with the Mac or Apple ?

  1. zaghahzag

    Joined: Dec 1969

    0

    sco

    What a bunch of jokers.. "products" = lawsuits.

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