Attachmate Corporation and Novell, Inc. recently announced the signing of a definitive agreement for Attachmate to acquire Novell for a purchase price of $6.10 per common share in cash. The transaction is valued at approximately $2.2 billion. Novell helps organizations securely deliver and manage computing services across physical, virtual and cloud computing environments through solutions for identity and security, systems management, collaboration and Linux-based operating platforms.
The transaction is currently expected to close in the first quarter of 2011 and is subject to customary closing conditions including antitrust clearance, Novell stockholder approval and certain other regulatory approvals and closing conditions. The transaction is also conditioned upon the concurrent closing of Novell's planned sale of certain intellectual property assets to CPTN Holdings LLC. Upon close, Attachmate Corporation will manage a brand portfolio consisting of Attachmate, NetIQ, Novell and SUSE.
"This acquisition will add significant assets to our current portfolio holdings and the Novell and SUSE brands will allow us to deliver even more value to customers," said Jeff Hawn, chairman and CEO of Attachmate Corporation, in the announcement on the company's website. "We have great respect for Novell's business, its employees and its commitment to customers. Moreover, we look forward to maintaining and further strengthening Novell and SUSE solutions to meet market demands."
"We 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 history of innovation and market leadership," said Ron Hovsepian, president and CEO of Novell. "Novell, SUSE, Attachmate and NetIQ have complementary product portfolios and many shared customers. We are pleased that Attachmate has committed to building on the strengths of the Novell and SUSE brands to address customer needs."
For more information about Attachmate, go here.
For more information about Novell, go here.