Feeds

SCO closes BayStar deal

Stock hits new low

  • alert
  • submit to reddit

Build a business case: developing custom apps

The SCO Group's stock hit its lowest point since the start of its anti-Linux campaign after settling a truce with one of its major investors. SCO has completed an agreement with BayStar Capital that ends an acrimonious dispute between the companies. Marin County-based BayStar invested $20m in SCO last October, but became dismayed by executives public statements and the company's strategy. Not that it lost faith in SCO's plan to extract IP royalties from Linux companies; quite the opposite: BayStar believed that SCO should drop its residual UNIX™ business and concentrate on licensing.

Earlier this year BayStar announced it wanted to trade in its preferred stock, the first time in six years the capital firm had asked for its money back. In a statement BayStar said that it had successfully completed the peace settlement outlined last month and no longer held preferred stock in SCO. For its part, SCO said it had been putting cash in an escrow account for the eventuality. The other major outside investor in the SCO Group, Royal Bank of Canada, bailed out earlier this year with BayStar picking up the preferred stock.

SCOX finished at $3.60, higher than its level before its anti-Linux campaign began in Spring 2003, but a long way short of the $20 peak it reached when BayStar's investment was unveiled last Fall. ®

Related stories

BayStar sets lawyers on SCO
Judge junks most of SCO's complaint against DaimlerChrysler
SCO makes peace with BayStar
Royal Bank of Canada dumps SCO Group shares
Bank bails out of SCO
Bigmouth McBride turned us off SCO, says investor
Investor dumps SCO
Microsoft encouraged anti-Linux investment - shock!

The essential guide to IT transformation

More from The Register

next story
True fact: 1 in 4 Brits are now TERRORISTS
YouGov poll reveals terrible truth about the enemy within
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?