Novell completes sales negotiations with Attachmate
Attachmate has acquired workload management company Novell in a $2.2 billion deal.
Attachmate has completed the acquisition of Novell in a transaction estimated at a value of $2.2 billion (£1.38 billion), following the conclusion of successful sales negotiations.
The workload management company announced it accepted an offer from the software provider, which valued its shares at $6.10 each.
Chief executive of Novell Ron Hosvepian said the company had decided a merger with Attachmate and a sale of some intellectual property assets represented the best alternative after the business had looked into other ways to enhance its stockholder value.
"Novell has an established record of innovation, impressive technology and brand assets and a leading ecosystem of partnerships and talented employees," stated Jeff Hawn, chief executive of Attachmate.
He added that the enterprise is "very excited" about the acquisition, as it represents an addition that complements the group's existing portfolio.
According to Attachmate, the business assures IT organisations that they are managed, compliant and secure and enables them to extend mission-critical services.