The deal, which was announced at partner conference Forum2000 in August last year, was held up largely because of the scrutiny placed on the US Securities & Exchange Commission (SEC), SCO's CEO Doug Michels previously revealed.
With both companies unable to put the deal to their respective shareholders until SEC approval was received, the acquisition stalled.
Now that the financial position of the divisions involved in the transaction have been examined and the shareholders have given it the thumbs up, Caldera will become the largest Linux company in the world, with sales, support and marketing representation in 82 countries.
The company now leads the world's largest Linux channel, numbering over 15,000 resellers worldwide. It provides application and hardware solution providers with a single Linux company that can facilitate the marketing and delivery of systems worldwide.
Caldera's CEO, Ransom Love said of the firm's immediate future: "The goal of Caldera International is to make Linux on industry standard hardware the alternative business platform.
"With the completion of this acquisition, Caldera will be the only company to offer a standard unified platform that allows Linux applications to scale the enterprise, utilising the power, maturity and scalability of Unix."
The SCO name will disappear, with the remaining division rebranding itself after its only product - Tarantella - and operate independently of a vendor or platform.