Attachment will purchase Novell for $2.2 billion in a cash deal, with the company to be split into two separate business units.
Attachmate will join those two units to the main company. In a statement, Novell said the deal is “definitive” and is more attractive than a deal made earlier this year by Elliott Associates.
“After a thorough review of a broad range of alternatives to enhance stockholder value, our board of directors concluded that the best available alternative was the combination of a merger with Attachmate Corporation and a sale of certain intellectual property assets to the (Microsoft) consortium,” chief executive Ron Hovsepian said in a statement.
Hovsepian all said that he expects the new parent company will, “deliver important benefits to Novell’s customers, partners, and employees by providing opportunities for building on Novell’s brand, innovation, and market leadership.”
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.