Co-founder of Novell Sells His Company

Dr. Roy Schestowitz

2011-01-16 19:27:21 UTC
Modified: 2011-01-16 19:27:21 UTC

Summary: Move Networks has eventually found a buyer, Echostar

Echostar is reported to have bought Move Networks. And its relevance: "The firm had been founded and ended up again in American Fork, Utah where founder Drew Major, a co-founder of Novell, is located." Techrights mentions EchoStar quite a lot in reference to TiVo's patent case. We previously reported shutdown.

Novell too will soon follow the footsteps of Move Networks. Here is a new article that recalls Novell's golden age: "Don designed and launched Novell's much-emulated global Authorized Dealer Program in the late 80's. He currently heads the Capital Formation Committee for the Northern Virginia Technology Council."

Also new:

I owned it a few years ago but its debt load scared me away in the past few years. Now the company has pulled debt down to less than stockholders' equity, so I will take another look. The P-E is four. Back in 1995, Novell of Waltham, Massachusetts, had $2bn in revenue and was considered a rival to Cisco Systems in computer networking.

Cisco was then only 10pc larger than Novell by revenue. Today, with revenue below $1bn, Novell is less than 3pc of Cisco's size. In November it agreed to be purchased by Attachmate for $2.2bn.

Novell is a story of failure after formation, then renaissance under Noorda's leadership, followed by fast decline due to Microsoft. Below we are putting the past month's financial news of Novell (NOVL) because the company will soon be taken off the market, assuming the takeover is OK'd. ⬆

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