SCO plans asset sale to help finance long-running legal battles

SCO is p l anning a public auction of it s mobile business and Unix OpenServer business line to help finance ongoing legal battles with...

SCO is planning a public auction of its mobile business and Unix OpenServer business line to help finance ongoing legal battles with the likes of Novell.

Loss-making SCO is currently in Chapter 11 bankruptcy and has already lost key judgements against Novell over who owns Unix.

It is also still pursuing claims against various firms that its code was wrongly used in the development of Linux.

SCO has asked the bankruptcy court for permission to sell off assets to pursue its legal battles, pay off creditors and protect the interests of shareholders and employees.

SCO said, "As part of the proposed reorganisation plan, SCO intends to conduct a public auction to secure additional operating funds and investment in its OpenServer product line as well as its mobile business.

"The company believes that the auction will maximise the value of an asset sale and will ensure the ongoing development of these businesses. Several investment groups have expressed interest to SCO in acquiring assets via the public auction."

It is not clear whether SCO intends to use a 99p opening offer on eBay or a more professionally organised auction process for the sale of its "assets".

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