SCO Zombie May Take a Few More Steps
The SCO saga may stagger on awhile:SCO has gotten a $16 million bid from York Capital for its Unix business. Coupled with the $10 million line of credit York is ready to provide, it's money enough to keep SCO's litigation against Novell and IBM going and to underwrite its budding mobile interests, the company says. SCO's lawyers will be filing papers related to the bid this afternoon with the bankruptcy court in Delaware.
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The deal SCO has cut with York would reportedly leave SCO with ownership of the litigation and what is being called the "core IP," apparently any IP necessary to the lawsuits. York, a $12 billion Manhattan firm known to buy small software companies with declining revenues and turn them around, would get a 20% interest in any licenses SCO's litigation produces. Say, if circumstances conspired to allow SCO to restart its hated SCOSource Linux licensing scheme. York would also get the right to license SCO's Unix source code and get control of its contracts with licensees. York is expected to invest in the business, which includes a bunch of sterling accounts, and attempt to grow it.
Haven't people got better things to do with their lives?
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