On Feb. 14, the SCO Group announced that a private investment firm agreed to put up $100 million to take SCO out of Chapter 11 bankruptcy.
From Information Week:
Stephen Norris Capital Partners (SCNP) and its partners from the Middle East, which SCO did not identify, have agreed to provide up to $100 million to reorganize SCO and take it private. As part of the plan, SNCP would take control of SCO.
Because of the investment, SCO is poised to emerge from bankruptcy court in the coming year. Jeff Hunsaker, president and chief operating officer of SCO, said the investment is in the best long-term interest of SCO, its subsidiaries, customers, shareholders, creditors, and employees. Read the full statement Read the full statement.
According to SCO, the business plan moving forward includes launching new product lines and seeing the company through its legal issues, including a Utah federal court order to compensate Novell for collecting royalties on UNIX after it was discovered that Novell and not SCO holds the copyright on the OS. It is estimated that SCO could owe Novell as much as $25 million. A trial set to begin on April 29 will determine the amount of compensation SCO will be required to pay. Read more.
The SCO woes have been in and out of headlines since it attempted to sue IBM for allegedly using open source Linux, with the claim that UNIX code was in Linux. When the Utah court determined that SCO was not the copyright holder, the point became moot.
Does your organization use SCO? Do the legal issues that it faces deter you from using its products?