Inter@ctive Investor: Caldera and SCO seal dealAug 02, 2000, 14:24 (0 Talkback[s])
(Other stories by Margaret Kane)
"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."