“SCO will have a 28 percent stake in Caldera Inc., which will be
backed by $7 million cash and 17.54 million shares of Caldera
Systems stock, worth about $121.7 million based on Tuesday closing
price of 6 15/16.”
“As part of the deal, The Canopy Group, Inc., a major
stockholder of Caldera Systems, will loan $18 million to SCO. SCO
will retain its Tarantella Division, and the SCO OpenServer revenue
stream and intellectual properties.”
“Following the acquisition, Love will become CEO of Caldera
Inc., and David McCrabb, current president of the SCO Server
Software Division, will become Caldera Inc.’s president and COO.
Jim Wilt, current president of the SCO Professional Services
Division will become president of the newly formed Caldera Services
Division. SCO CEO Doug Michels will join the Caldera Inc. board of
directors. SCO will also appoint a second Caldera Inc. board
member. The two companies will host Forum2000 later this month
in Santa Cruz, Calif., where Caldera plans to unveil their updated
product offering.”