Attachmate Corp. To Take Over Novell For 2.2 BillionNovember 23rd, 2010 - 8:14 pm ICT by GD
By Gina Gomez
New York, Nov 23, (THAINDIAN NEWS) U.S. based software maker Novell is all set to be acquired by investment group Attachmate Corp. which is made of three private equity firms. The announcement was made by the Waltham based company on Monday when it revealed that it has given its consent to be acquired by Attachmate for a whopping 2.2 billion dollars. The software maker has also revealed that it has agreed to sell undisclosed intellectual property to CPTN Holdings for an amount of 450 million dollars in cash. CPTN Holdings is a group of technological firms with Microsoft as its leader.
The decision of Novell to be acquired by the investment group, Attachmate Corp. hardly comes as a bolt from the blue given the fact that the multinational software and services firm was facing hurdles while competing with other software giants such as Microsoft with its declining sales since the last three years. In a statement that was issued by Ron Hovsepian, the president and chief operating officer of Novell, it was pointed out that the firm is pleased with the transactions as it recognizes the actual value of Novell’s technology, relationships as well as solutions. The company CEO also highlighted that the software firm was pleased with the negotiations as it provided the stockholders with a lucrative cash premium for investments that they have made.
As per the negotiations, Attachmate Corp. would acquire the software maker for 6.10 dollars per share in cash. The investment group Attachmate Corp. is owned by three private equity groups which includes Golden Gate Capital, Thoma Bravo and Francisco Partners.
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