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05.22.11

Novell’s Takeover Smells Ever More Dodgy as Wizard Parent LLC Provides Shady Financing

Posted in Finance, Microsoft, Novell at 6:19 am by Dr. Roy Schestowitz

Money under the mouse

Summary: Hundreds of millions involved in the Novell deal, which is tied to some secretive entity called Wizard Parent LLC

NOVELL is history, but part of its history involves the case against Microsoft, which the Microsoft boosters spin upon antitrust scrutiny expiry (oversight ending). For instance:

Some issues may still live on concerning Microsoft’s past competition practices. An appeals court this month cleared the way for Novell (newly acquired by Attachmate Corp.) to sue Microsoft over antitrust claims associated with WordPerfect, which Novell owned in 1994. Novell’s complaints are associated with the use of the operating system market control to exclude applications, as well as allegations that exclusionary agreements were in place with original equipment manufacturers, hurting WordPerfect distribution and helping Microsoft Word.

We hope that AttachMSFT will carry on with this case. There is fishy stuff going on and the acquisition of Novell turns out to be even more bizarre. As John Cook from Seattle put it and reminded us, the secretive companies behind the acquisition (run by a bison slayer, who was previously arrested] had to take a loan and spoke to Elliot even before Elliot made the bid for Novell and put it on sale. We wrote some more about Elliot in posts such as:

Here is what seems too strange about the deal, in addition to the involvement of that vulture, Paul Singer.

Attachmate is one of Seattle’s oldest software companies, with a history stretching back to the early 1980s. But did you know that it operates under the name of Wizard Parent LLC? We didn’t, and now that entity has appeared in a recent SEC filing as having raised $377 million.

Why? A spokeswoman for the company confirmed that Wizard Parent owns The Attachmate Group, but she declined to offer details about the financing.

It appears that the money is tied to Attachmate’s acquisition of Novell, a deal which was first announced last November and closed late last month. On April 27th, Attachmate published a short two paragraph press release about its acquisition of Novell.

The company which put Novell on sale is a group of thugs who use financial instruments to coerce others. There is a lot of history there. Maureen O’Gara, the SCO fan, says that Elliot has a new victim to prey on:

The acquisition should close in 45-60 days. Iron Mountain is under pressure from Elliott Associates, one of its shareholders famous these days for its role in putting Novell in play, to get out of the information storage business and into real estate. The assets being sold were at best breaking even.

It is sad that such companies are allowed to operate. They offer nothing to society and they monetise destruction. We might never know just what really happened to make Novell a goner. There has been too much secrecy and back-room negotiations. One might say that Elliot conspired with someone to sell Novell cheaply while making a big profit, dissolving some of Novell’s efforts in the process. Will the legal cases against SCO and Microsoft still be pursued? We foresaw such a problem 4 years ago.

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4 Comments

  1. The Mad Hatter said,

    May 22, 2011 at 11:09 am

    Gravatar

    When Microsoft introduced Windows 95, they refused to provide Beta copies of Win95 to Independent Software Vendors. I spoke to several ISVs who were unable to get copies of Win95 until it was on the store shelves. Curiously these were companies who were in competition with Microsoft.

    Companies that weren’t in competition with Microsoft didn’t have those problems for some reason.

    Of course the people who were effected aren’t willing to talk about it.

    Wayne

    Dr. Roy Schestowitz Reply:

    Are there any links on the subject?

    The Mad Hatter Reply:

    Nothing, and I’m not even sure that the people who talked to me in 1995 would be willing to admit now that they’ve ever talked to me in the past…

    A wounded monster is twice as dangerous after all.

    Wayne

    Dr. Roy Schestowitz Reply:

    Maybe it’s self censorship then.

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