JGD Management has tendered the offer, according to a court filing made by SCO. The group is also interested in cherry picking other SCO intellectual property as part of the deal.
"The Debtors have received an offer to acquire substantially all of the Debtors' assets relating to its Unix operating system, and certain related claims in litigation, as well as certain transfer, cross-licence and related agreements pertaining to the Hipcheck product line and Me Inc. Mobile intellectual property owned by Me Inc, a non-debtor affliate of the Debtors," says the filing
"The offer is subject to the receipt of higher or better offers through a competitive sale process. The offer requires that an order approving the bid procedures proposed herein be approved on or before 9 November 2007, and that the transactions approved by no later than 7 December 2007."
Following a court ruling that SCO did not own the rights to Unux, shares in the company plummeted and the company was delisted and filed for bankruptcy protection. Chief executive Darl McBride has said that he wants to keep the business viable and the buyout would give the company breathing space.
Investors eye SCO for US$36 million
By Iain Thomson on Oct 26, 2007 7:32AM