SCO files for bankruptcy

Written by Phil Cogar

September 17, 2007 | 15:51

Tags: #bankruptcy #copyright #unix

Companies: #novell #sco

Just a hair over a month ago, SCO finally lost the court battle to Novell over the copyright for parts of UNIX. It seems that that was all the company could take because now it is filing for bankruptcy.

Filing for bankruptcy doesn't spell the end of SCO though, as it just gives the company protection from creditors while it restructures in order to turn things around.

Back when the court ruled in favor of Novell, SCO vowed to continue its efforts to gain the copyright to UNIX but with the recent filing, it is unlikely the company will survive long enough in order to do so. Part of the settlement that the judge ruled on was that SCO had to pay Novell all licensing fees that it had collected from Sun Microsystems and Microsoft which could amount to around £12.4 million.

While £12.4 million might not sound like a large sum of money for a corporation, SCO listed having only £7.4 million in asset with over £3.7 in debt. The potential payout is far greater then the amount that SCO has in its war chest.

At the end of the trading day on Friday, SCO's stock was going for 37 cents a share on the US stock market. If the company had any future in it, I'd recommend "BUY! BUY! BUY!" but you better stick your money somewhere else now.

Any final thoughts or farewells for SCO? Leave your condolences for the family over in the forums or in the comment section below.
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