Novell Acquired By Attachmate Corp
Attachmate To Split Novell Into 'Novell and SUSE' Units
Attachmate Corporation are set to acquire Novell in a transaction valued at approximately $2.2 billion! Attachmate Corporation will purchase the Novell shares at $6.10 per unit. Novell has also entered into a definite agreement for the concurrent sale of "certain intellectual property assets" to the CPTN Holdings LLC consortium of technology companies organised by Microsoft Corporation. This deal is for $450 million in cash.
"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," said Jeff Hawn, chairman and CEO of Attachmate Corporation.
Attachmate Corporation will split Novell into two business units: Novell and SUSE. The acquisition is subject to customary closing conditions, and subject to approval by Novell's stockholders. Novell currently expects these transactions to close in the first quarter of 2011.