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.