SCO drops plans to sell Unix

SCO has dropped plans to sell its Unix and mobile technology businesses to raise £18m.

SCO has dropped plans to sell its Unix and mobile technology businesses to raise £18m.

SCO's assets are currently protected by Chapter 11 bankruptcy, a legal move the firm took soon after losing its much publicised court case against Novell over ownership of Unix.

SCO had planned to sell its Unix and mobile businesses to private investment firm York Capital Management for £18m, but it has now dropped the plan without giving an official reason.

Both Novell and IBM had objected to the fire-sale, both claiming it included assets that SCO did not own.

Both firms are major creditors of SCO and they had tried to block the move in the bankruptcy court.

SCO's failing legal moves to prove that it owns the rights to the Linux OS has cost it millions and has sent it into the red, in addition to slumping sales for its Unix-based systems.

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