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SCO Goes Private With $100 Million Backing
AmIAnAi writes "Just when you thought it was all over, the SCO story takes a new twist. SCO has received $100 million financing from Stephen Norris Capital Partners to get them out of Chapter 11 and go private 'The move gives Stephen Norris, whose namesake founder was a co-founder of private equity giant The Carlyle Group, a controlling interest in SCO, which now has a platform to continue its court battle with Novell Inc. over royalties from the Unix server operating system, SCO's main business ... According to a statement from the company, SNCP already has a business plan for SCO that includes pursuing its legal claims.'"
... the Stephen Norris group. When do the judges get sick of barratry?
Dog is my co-pilot.
What kind of genius investment group thinks sueing IBM is a winning proposition?
I think, in a backwards way, it's a good thing. There's some concern in some quarters that SCO evaporating before the questions it raised would leave those questions unanswered, and that someone might try this stunt again. Now everything, including what SCO owes Novell, will get a full hearing.
The world's burning. Moped Jesus spotted on I50. Details at 11.
Hire your brother (Kevin McBride) as a lawer and pay him a pile of legal fees (thereby getting the money out of the sinking ship and back onto dry land, but out of reach of the investors).
Engineering is the art of compromise.
SCO is proposing to go private.
Right now they can't buy paperclips without Judge Gross's permission (ok, I'm exaggerating, but only a little).
The US Trustee, Novell and IBM are all going to over the plan with a fine-tooth comb and the judge isn't going to approve it just on SCO's say-so. This could be like the York deal that SCO tried to push though last year, all smoke and mirrors.
So don't go getting your shorts in a bunch just yet.
How many companies exist that would invest in a company that has no actual customers, already in chapter 11, and stuck in drawn-out legal proceedings that it almost certainly won't win? Microsoft has already undeniably helped SCO before, and they do have enough money to throw around that $100 million isn't too much to spend on a longshot.
So even if there's not direct evidence, there's also a very short list of people with $100 million sitting around who would want to invest in SCO. If it's not Microsoft, then I'd like to know who, because I've got a Perpetual Motion Machine for them to invest in next.
Not a typewriter