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Print Edition StoriesMonday, June 15, 2009
Novell to buy back $121.6M of debt
By Mass High Tech staff
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Open-source network software company Novell Inc. says that it is launching a cash tender offer to spend $121.67 million to purchase back some debt.
The Waltham-based company says it will buy back its 0.50 percent convertible senior debentures due 2024 for $1,000 per $1,000 principal amount of the debentures, plus any accrued and unpaid interest up to July 15, 2009, the day after the offer ends.
In May, Novell partnered with Affiliated Computer Services Inc. in a five-year $135 million contract in which Novell is outsourcing some internal information technology services to ACS (NYSE: ACS). The partnership also entails ACS paying Novell (Nasdaq: NOVL) at least $30 million in the first three years for Novell products.
In February, Novell reported acquiring the technology assets of Fortefi Ltd., a U.K.-based provider of IT security software. It also signed a permanent license to use the SecureLogin sign-on software made by California-based ActivIdentity Corp.
Last October, Novell reported plans to acquire Managed Objects Inc., a Virginia-based business service management company. The acquisition extended Novell’s portfolio of data center solutions by adding tools designed to provide a unified view of information and workloads.
Novell reported a net loss of $8.7 million on total revenue of $956.5 million in 2008.
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