Novell Acquired for $2.2 Billion in Cash
2.2 billion dollars will count the cash transaction between Novell and Attachmate Corporation. Today Attachmate investment group confirmed the acquisition of Novell shares at $6.10. Also, Novell signed an official agreement over the concurrent sale of $450 million in cash of certain intellectual property assets to CPTN Holdings LLC, which is a consortium organized by Microsoft Corporation.
The acquisition price per share represents a 9% premium in comparison to Novell’s closing stock price on Friday, the 19th of November. Ron Hovsepian, the president and CEO of Novell, praised the acknowledgment of their assets by the partners: "We are pleased that these transactions appropriately recognize the value of Novell’s relationships, technology and solutions, while providing our stockholders with an attractive cash premium for their investment."
Moreover, the managing board is expecting Attachmate to deliver an improvement in market leadership and stakeholders relationships, saying "we also believe the transaction with Attachmate Corporation will deliver important benefits to Novell’s customers, partners and employees by providing opportunities for building on Novell’s brands, innovation and market leadership."
Attachmate’s plans for Novell are to divide it in two different companies: Novell and SUSE together with Francisco Partners, Golden Gate Capital and Thoma Bravo.
Jeff Hawn, the chairman and CEO of Attachmate Corporation concluded the transaction: “We are very excited about this transaction as it greatly complements our existing portfolio. Novell has an established record of innovation, impressive technology and brand assets, and a leading ecosystem of partnerships and talented employees. The addition of Novell to our Attachmate and NetIQ businesses will enhance the spectrum of solutions we can offer to customers. We fully support Novell’s commitment to its customers and we look forward to continuing to invest for the benefit of Novell’s customers and partners."
Novell acts on the intelligent workload management, delivering efficient solutions for secure computing services, in all the main sub-domains: physical, virtual and cloud computing. The most exclusive product of the company is SUSE Linux, an open source operating system. Recently, it was spotted by VMware, which drew his attention on SaaS applications.
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