Attachmate Corporation to Acquire Novell

Attachmate Corporation and Novell, Inc. yesterday announced the signing of a definitive agreement for Attachmate to acquire Novell for a purchase price of $6.10 per common share in cash, in a transaction valued at approximately $2.2 billion.

The transaction, which the companies expect to close in the first quarter of 2011, 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. "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."

For more information about Attachmate, go here.

For more information, go here.