Several investment groups have expressed interest in buying assets of SCO Group Inc. in a public auction, the bankrupt provider of UNIX software technology said on Tuesday.
The company, which filed for Chapter 11 bankruptcy protection in September 2007, plans to conduct an auction for its Mobility Assets mobile line and OpenServer business to obtain operating funds and attract investment, according to court documents. The auction is also seen as a way to help the company emerge from bankruptcy protection.
SCO’s 2007 bankruptcy filing came after a court had rejected its copyright claims over the UNIX operating system.
“One goal of this approach is to separate the legal defense of our intellectual property rights from our core product business,” Jeff Hunsaker, president and chief operating officer of SCO Operations, said in a statement. “The auction process is expected to ensure that the future revenue from the OpenServer and mobile businesses stays with those assets.”
A company representative was not immediately available to comment on the investment groups’ interest.
Lindon, Utah-based SCO said the amended reorganization plan was subject to bankruptcy court approval. A hearing is scheduled for Feb. 25.
On March 4, the company said private equity firm
(Reporting by Chelsea Emery; Editing by Lisa Von Ahn)
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