 |
|
 |
| |
Welcome to virtuallinux.org. You are currently reading the article "Update: McBride ousted at SCO, lawsuits to continue". All articles on virtuallinux.org pertain to the ongoing assult on the worlds greatest Operating system. Continue on reading about "Update: McBride ousted at SCO, lawsuits to continue"
Update: McBride ousted at SCO, lawsuits to continue
Posted on Thursday, March 06 2008 @ 07:36:13 EST by linuxwiz |
|
 |
|
 |
| |
Lindon (UT) – The SCO Group plans to emerge from Chapter 11
soon and revealed that not only will it modify its business strategy
towards mobile products, it will also replace chief executive officer
Darl McBride and pick up the Linux and Unix license lawsuits against
IBM and Novell.
The new owner of The SCO Group, investment firm Stephen Norris Capital
Partners (SNCP), is planning to open a new chapter in SCO’s Linux
lawsuit history, which started back in March of 2003 when the company
filed a $1 billion suit against IBM. As part of its plan organization,
SCO announced that it will appeal the proceedings, which will begin
with an appeal against a key decision in favor of Novell from August 10, 2007, which also impacts the lawsuit against IBM.
“SCO respectfully disagrees with those rulings, in a summary judgment
context, and intends to appeal at its earliest opportunity,” the
company wrote in regards to the Novell case. This judgment entitles
Novell to collect SVRX royalties previously received by SCO from Sun
Microsystems and Microsoft, which amount to $26 million, or more $37
million including interest.
Most of SCO’s claims against IBM
have been dismissed or narrowed following the August 10 Novell ruling.
A summary judgment in this case will require “certain further
proceedings before it becomes a final order and subject to appeal,” SCO
said. The company noted that it intends to appeal once this ruling is
final.
The appeal process, however, will happen without Darl
McBride. SCO said that the implementation of the restructuring plan
“requires” a change of the chief executive officer of the company. A
new CEO will be named by the board when the plan becomes effective.
McBride isn’t leaving SCO voluntarily. The Salt Lake Tribune reported
that McBride “regrets” that he is being “pushed out” of the company.
"Clearly when we draw up a battle plan for what we've been working for
the last several years, trying to get SCO's intellectual property
rights fought through in the courts and the marketplace, the endgame
didn't have this sort of outcome for me personally," McBride told the
newspaper.
The plan foresees SNCP to acquire all assets of The SCO Group for $5 million.
Over the course of 5 years the investment firm will make up to $95
million available as a loan to the company, at 17% interest, which will
need to be paid to SNCP on a monthly basis. Current claims against the
company are more than $3.1 million.
The filing also also
indicates that SCO’s will focus more towards the mobile market in the
future. The company said that competitors have achieved a “brand
recognition” and a “market presence” that “may prevent” SCO from
obtaining and retaining market share in this segment. Craig Bushman,
vice president of marketing at SCO, told TG Daily that the company,
however, will not be dropping its server business. “SNCP has indicated
that it values SCO's server business and will build upon that
strategy,” he wrote in an email. Instead, the firm now apparently looks
for opportunities in the mobile applications market and interestingly,
the firm noted that it believes that its success in this market will
depend (in part) on the outcome of the pending litigation.
“Based
on the explosive mobile phone adoption in emerging markets such as
India, China, Middle East and Afrca, SCO Group recognizes that both
consumer and enterprise mobile solutions to be a significant opportnity
for the company. Research indicates that mobile phones far out sell
personal computers and as such, many consumers in these emerging
markets are using their mobile device in lieu of a personal computer.
SCO wil continue to deliver and innovate mobile solutions to best
exploit the growth in these markets,” the company said.
Source
|
|
 |
 |
 |
| |
|
 |
|
| |
Article Rating
Average Score: 0
Votes: 0
|
|
 |
 |
 |
|
Welcome Anonymous
Login:
Membership: