Attachmate Buying Novell: Shares Increase On News

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It has recently been revealed that the software company Attachmate has agreed to buy Novell for $2.2 billion, this deal values Novell at $6.10/share.

The deal itself will close in Q1 2012, apparently Novell will also be selling some assets for $450 million to a consortium led by Microsoft Corp, you can find out fully detailed information regarding the deal here.

Back in March 2010 Novell turned down a takeover bid from Elliott Associates, LP, however Novell thought that the $1 billion offer undervalued the company’s potential.

Attachmate has high expectations as to what this deal will bring, apparently they plan to operate Novell as two units, Novell and SUSE and will result in the company having a revenue of $1 billion a year.

Source: Reuters