SCO is announcing to the world that its UNIX assets are for sale. Here's the press release on PR Newswire. It describes itself as "a leading provider of UNIX software technology." It says it is selling "substantially all" of its UNIX business, "including certain UNIX system V software products and related services". Hmm. SysV what?
"Our goal is to ensure continued viability for SCO, its customers, employees and the UNIX technology," said Nielsen.
As you have witnessed in the past decade as SCO has sued one customer after another, ensuring continued customer viability has always been at the top of SCO's bucket list and close to its noble heart. My question is, might the timing of all this be connected with the rumored sale of Novell? Not to be cynical, but with SCO, I always assume there will be vultures.
Update: It occurs to me that if you are new, you might wonder about all this. So, for context, here is where you can find the SCO motion to sell the assets, along with a list of what you get, and here is an article on various entities that have reserved rights on this proposed deal, and
here's where the hearing on the motion is reported on and where you can also find the judge's order approving the sale, subject to all the possible objections that were mentioned at the hearing.
The SCO Group Announces UNIX Asset Sale
LINDON, Utah, Sept. 16 /PRNewswire/ -- The SCO Group, Inc., (Pink Sheets: SCOXQ), www.sco.com, a leading provider of UNIX® software technology, today announced that it is pursuing a sale of substantially all of the assets of its UNIX® business, including certain UNIX system V software products and related services. The asset sale will be free and clear of liens and encumbrances pursuant to Section 363 of the U.S. Bankruptcy Code. Interested parties must submit a bid by close of business, October 5, 2010. For information on the company or the sale, please contact Ocean Park Advisors, LLC, 6033 West Century Blvd., Suite 1290, Los Angeles, CA 90045, Attn: Bruce Comer, Managing Director, (310) 670-2721; Mark Fisler, Managing Director, (310) 670-2704.
"This asset sale is an important step forward in ensuring business continuity for our customers around the world," said Ken Nielsen, chief financial officer, The SCO Group. "Our goal is to ensure continued viability for SCO, its customers, employees and the UNIX technology," said Nielsen.
The purchase price for the UNIX software assets will be determined in connection with the auction sale. Any party wishing to submit an offer for the Software Business Assets must submit a non-contingent offer, marked Asset Purchase Agreement to show any revisions, and evidence of financial wherewithal to close on the transaction on or before October 5, 2010 at 5:00 p.m. (prevailing Eastern Time) to: (i) The SCO Group, Inc., 333 South 520 West, Suite. 170, Lindon, Utah 84042, Attn: Ryan Tibbitts; (ii) Blank Rome LLP, 1201 N. Market Street, Suite 800, Wilmington, DE 19801, Attn: Bonnie Glantz Fatell, Esq.; (iii) Ocean Park Advisors, LLC, 6033 West Century Blvd. Suite 1290, Los Angeles, CA 90045, Attn: Bruce Comer.
The SCO Group (SCOXQ.PK) is a leading provider of UNIX software technology. Headquartered in Lindon, Utah, SCO has a worldwide network of resellers and distributors. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit www.sco.com. SCO and the associated logos are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries.
Forward Looking Statements
The statements contained in this press release are forward-looking statements and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks and uncertainties. We wish to advise readers that a number of important factors could cause actual results to differ materially from historical results or those anticipated in such forward-looking statements. These factors include, but are not limited to, outcomes and developments of our restructuring plan,outcomes and developments of our Chapter 11 case, court rulings in our bankruptcy proceedings, the impact of the bankruptcy proceedings on our other pending litigation, and our cash balances and available cash. These and other factors that could cause actual results to differ materially from those anticipated are discussed in more detail in the Company's periodic and current filings with the Securities and Exchange Commission, including the Company's Form 10-K for the fiscal year ended October 31, 2008, as amended, and future filings with the SEC. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date.