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Investment Firm Bids to Buy SCOs UNIX Operations

Posted by samzenpus on from the one-mans-junk dept.

WebCowboy writes "It appears that there are still enough people out there deluded enough to see value in SCOs UNIX operations. York Capital Management has put in a $36 million bid for SCOs UNIX operations. The offer includes coverage of up to $10 million for payment of legal fees and York Capital would assume ownership of the disputed UNIX IP as well as what is left of the lawsuits. Interestingly, SCO has offered this up for competitive bid (who would want to though?). Upon completion of the transaction, should bankruptcy court approve, SCOX would become solely a mobile applications provider (which is the only part of SCOs offerings that have undergone any meaningful development for quite some time)."

2 of 177 comments (clear)

  1. Re:SCO used to be really good. by BadAnalogyGuy · · Score: 5, Interesting

    York Capital Management is a hedge fund management outfit. They are not going to be breathe any life into SCO. They are going to tear it apart and sell off what they can and try to make a profit over and beyond the 30+ million they are intending to invest.

    If they didn't see any upside here, they wouldn't have made the offer. You can bet SCO's got something of value that York will be able to sell off at a tidy profit.

  2. From Groklaw comments: by Udo+Schmitz · · Score: 5, Interesting
    User Jaywalker over at Groklaw has an interesting comment:

    "JGD Management Corporation has its principal executive offices at 1118 East Green Street Pasadena, California 91106 (http://www.secinfo.com/d12TC3.v51a.htm)

    If you google the address the first match is a reference to a page on Edgar which provides the Form 4 (any of you US business types know what that is?) for a comany known as Arrowhead Research Corp which has one R Bruce Stewart as its CEO and Chairman of the Board.
    (http://edgar.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?Sessi onID=T-hII2bI2EHwHrP&ID=3669175)

    R Bruce Stewart founded Acacia Research Corporation in March 1991. (http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearshe et.jhtml?passedPersonId=927443).

    Has anyone heard of Acacia Research before?

    Hmmmm.

    It has to be a coincidence."