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Report: Novell Has Deal To Sell Itself in Two Parts
The New York Post reported this morning that Waltham, Mass.-based Novell has agreed to "a deal in principle" to sell itself in two separate parts to two separate buyers.
According to the article, the first buyer is a "strategic buyer" who will pick up the Linux SUSE part of the business, with a "a private-equity firm picking up much of the rest," according to several anonymous sources "close to the deal."
"Both deals are expected to close simultaneously," the article continues, "and the company will be de-listed, according to one source, who noted that the talks are in a sensitive stage and could fall apart." Read the full article here.
Novell has not commented on the report.
Novell launched in 1983 and was a large player in the Windows, network and software market with products such as NetWare, GroupWise and WordPerfect. It moved into the Linux space with its acquisition of SUSE in 2003.
In March of this year, the company rejected a takeover bid from Elliott Associates estimated at $1 billion.
About the Author
Becky Nagel serves as vice president of AI for 1105 Media specializing in developing media, events and training for companies around AI and generative AI technology. She also regularly writes and reports on AI news, and is the founding editor of PureAI.com. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. Find her on X/Twitter @beckynagel.