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Novell To Be Acquired By Attachmate Corporation

Novell To Be Acquired By Attachmate Corporation

Novell hasn't been in the best of financial states recently. So much so that it prompted an offer of 2 billion US dollars from hedge fund shareholder Elliot Associates for the multinational software and network services corporation. This took place in March, 2010. However, it appears Novell has finally reached the end of its rope, for it has agreed to be acquired by software company Attachmate Corporation at US$6.10 per share. 

Novell, Inc. (NASDAQ: NOVL), the leader in intelligent workload management, today announced that it has entered into a definitive merger agreement under which Attachmate Corporation would acquire Novell for $6.10 per share in cash in a transaction valued at approximately $2.2 billion. Attachmate Corporation is owned by an investment group led by Francisco Partners, Golden Gate Capital and Thoma Bravo.

According to the press release, Attachmate Corporation plans to operate Novell as two business units: Novell and SUSE; and will merge them with other holdings, Attachmate and NetIQ. You may read up more about the acquisition here

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