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SCO receives $100 million in private equity

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The money pit that is SCO seems to have gotten a lifeline this week in the form of a $100 million dollars in private investment from Stephen Norris Capital Partners (SNCP) and some of its undisclosed associates. There is apparently a restructuring plan in the works. SCO famously attempted to become profitable by suing everything that moved in the Linux world. This detestable plan ended in epic failure and SCO was almost universally reviled by the tech community. Any plans SCO might have for returning to this tactic seem extremely unlikely to succeed. Why would anyone invest in such a mess?

“We saw a tremendous investment opportunity in SCO and its vast range of products and services, including many new innovations ready or soon to be ready to be released into the marketplace,” said SNCP managing partner Stephen Norris in a statement regarding the investment. “We expect to quickly develop these opportunities, and to stand behind SCO’s existing base of customers and partners.”

SCO’s future is seriously dim. $100 million in cash will probably keep SCO alive to annoy us all for some time to come. Luckily, the end result will probably remain the same.

Read [arstechnica]

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