SCO to get $100m bailout but law suits to continue

SCO, the Unix company that caused consternation in the open source world by claiming IP rights to part of the Linux code, is getting a cash infusion - providing it keeps up its legal onslaught.


Jeff Hunsaker, president and chief operating officer of SCO Operations, said in a statement that the deal not only would allow the company to emerge from bankruptcy "but it also marks an exciting future for our business. This significant financial backing is positive news for SCO's customers, partners and resellers who continue to request upgrades and rely upon SCO's UNIX services to drive their business forward."

A new business plan has been established for the company, "that includes unveiling new product lines aimed at global customers. This reorganisation plan will also enable the company to see SCO's legal claims through to their full conclusion."

Stephen Norris, managing partner for SNCP, that his company sees "tremendous investment opportunity in SCO and its vast range of products and services, including many new innovations ready or soon to be ready to be released into the marketplace. We expect to quickly develop these opportunities, and to stand behind SCO's existing base of customers and partners."

This isn't the first financial proposal made for SCO since it filed for bankruptcy. Last October, the company announced a "potential" $36 million payment for SCO's Unix business from JGD Management Corp., an umbrella business of New York-based investment firm York Capital Management LLC. The deal did not go through.

In recent months, SCO has been focusing on its initiatives for software aimed at mobile devices..

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