"Embattled Unix vendor SCO may get a new lease on life, thanks
to a $100 million infusion aimed at helping it emerge from
bankruptcy and pursue its controversial legal claims.
"The financing comes from Stephen Norris Capital Partners
(SNCP), which will take a controlling interest in SCO as part of
"'Not only will this deal position us to emerge from Chapter 11,
but it also marks an exciting future for our business,' said Jeff
Hunsaker, the company's president and COO of SCO Operations, in a
Linux-Watch: SCO CEO Darl McBride is on His Way Out
"While The SCO Group may go on to pursue its plans with a $100
million buyout, it will do so without its longtime CEO Darl
"Buried in the proposed MOU (Memorandum of Understanding)
between Unix vendor and Linux litigator SCO and SNCP (Stephen
Norris & Co. Capital Partners) is the note that 'upon the
effective date of the Proposed Plan of Reorganization, the existing
CEO of the Company, Darl McBride, will resign immediately...'"