Articles tagged with: SCO
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The SCO Group, Inc., (Pink Sheets: SCOXQ) a leading provider of UNIX(R) software technology, today announced a restructuring plan following an analysis of the company’s operations and cost structure undertaken by Chapter 11 Trustee, Edward Cahn and his advisors.
The company expects to finalize details of the restructuring and to reach cash flow breakeven for core operations within the next month. The savings are a combination of non-workforce related changes and a modest reduction in SCO’s workforce. As part of the restructuring, the company has eliminated the Chief Executive Officer and …
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SCO Group, best known for suing IBM and claiming it deserved royalties from companies using the popular Linux operating system, said Thursday that a private investment firm has agreed to put up the money to take SCO out of bankruptcy court.Stephen Norris Capital Partners and its partners from the Middle East, which SCO did not identify, have agreed to provide up to $100 million to reorganize SCO and take it private. As part of the plan, SNCP would take control of SCO.
Because of the investment, SCO is poised …
