Tags: Attachmate | Novell | buy

Attachmate Agrees to Buy Novell for $2.2 Billion

Monday, 22 Nov 2010 09:38 AM

Software provider Novell Inc. said Monday it agreed to be bought by privately held Attachmate Corp. for about $2.2 billion or $6.10 per share.

Novell also said it will sell certain intellectual property assets for $450 million to a consortium led by Microsoft Corp. The cash sale to the consortium known as CPTN Holdings is reflected in the Attachment purchase price.

The agreements follow a March proposal from another firm Elliott Associates's to by Novell for $5.75 per share.

Novell said the $6.10 per share price represents a premium of 28 percent to its closing share price on March 2, just before the disclosure of the Elliott Associate's offer.

Attachmate, a provider of technology services, is owned by an investment group led by Francisco Partners, Golden Gate Capital and Thoma Bravo.

Novell shares rose to $5.97 in early trade after closing at $5.59 in the regular Nasdaq session.

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Software provider Novell Inc. said Monday it agreed to be bought by privately held Attachmate Corp. for about $2.2 billion or $6.10 per share. Novell also said it will sell certain intellectual property assets for $450 million to a consortium led by Microsoft Corp. The...
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2010-38-22
Monday, 22 Nov 2010 09:38 AM
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