Novell, a software company That rose to power along with the Intel-based computers But failed to keep up with Rivals Such as Microsoft and Red Hat, Announced Today an end Thurs ITS Independence with a $ 2.2 Billion Acquisition by Attachmate.
Under the agreement, to the privately Held Attachmate will pay $ 6.10 per share for Novell, a 9 Percent premium over Friday's closing price of $ 5.59 and a 28 Percent Premium Over the last public trading day before Elliott Associates made an offer of $ 5.75 per share in March. Novell That Offer Rejected.
Attachmate, Which is run by an investment group led by Francisco Partners, Golden Gate Capital, and Thoma Bravo, describes Itself as a Company That "enables IT Organizations Thurs Extend mission-critical services and assures They are managed, secure, and compliant."
In Addition, Novell is selling "certain Intellectual Property Assets Thurs CPTN Holdings LLC, a consortium of technology companies Organized by Microsoft," for $ 450 Million in Cash That's part of the payment through Attachmate.
"We Believe this transaction is great news for our Customers. Novell has a long history of innovation and market leadership, and this tradition will be preserved and built upon through this transaction," Novell Chief Executive Ron Hovsepian Told Customers in an e-mail about the deal.
Novell rose to Success through sales of the ITS NetWare operating system, a common Fixture in the 1990s with Intel servers Thurs Provide services used by PCs running Microsoft's DOS and Windows operating systems and. It also Life Sold Higher-level server software for functions Such as e-mail and, for a time, the WordPerfect suite of Software That competed with Microsoft Office.
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