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.
Becky Nagel is the vice president of Web & Digital Strategy for 1105's Converge360 Group, where she oversees the front-end Web team and deals with all aspects of digital projects at the company, including launching and running the group's popular virtual summit and Coffee talk series . She an experienced tech journalist (20 years), and before her current position, was the editorial director of the group's sites. A few years ago she gave a talk at a leading technical publishers conference about how changes in Web browser technology would impact online advertising for publishers. Follow her on twitter @beckynagel.