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SCO Goes Private With $100 Million Backing

By DanLM ·

Just when you thought it was all over, the SCO story takes a new twist. SCO has received $100 million financing from Stephen Norris Capital Partners to get them out of Chapter 11 and go private 'The move gives Stephen Norris, whose namesake founder was a co-founder of private equity giant The Carlyle Group, a controlling interest in SCO, which now has a platform to continue its court battle with Novell Inc. over royalties from the Unix server operating system, SCO's main business ... According to a statement from the company, SNCP already has a business plan for SCO that includes pursuing its legal claims.'"

Won't they just go under already. And what scares me, the private investment firms are in the battle now. These people will squeeze blood from a rock.
The $100 million dollar financing is nearly triple the $36 million for which SCO appeared willing to sell its Unix business off in October, when it announced a tentative bid from York Capital. That deal ultimately fell through.

That scares me even more. This private equity paid 3 times the requested sales price. Hidden agenda by the private equity firm?

SCO has already lost in court, are they now going after IBM???
[I}in an August decision Judge Dale Kimball ruled against SCO, finding that Novell was the owner of the disputed Unix and UnixWare copyrights. That ruling ultimately led to SCO's filing for Chapter 11 bankruptcy protection.

Why would anyone spend that much money on a company, that didn't even ask for that much, unless they see court payoff's in the future?


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