Novell Picks Up PlateSpin For $ 205 Million in Cash
Today, Novell announced that it has entered into a definitive agreement to acquire PlateSpin for $205 million using current cash. The acquisition is expected to close during Novell’s second fiscal quarter 2008 subject to the satisfaction of closing conditions.
PlateSpin will be integrated into Novell’s Systems and Resource Management business unit. As part of this business unit, PlateSpin will continue to develop and market its solutions to a global customer base. This will be done through the continued operation of PlateSpin’s Toronto facility as well as through a combination of PlateSpin and Novell offices and facilities around the globe.
All key PlateSpin management are staying through FY08 and many have accepted permanent employment at Novell. PlateSpin founder and CEO, Stephen Pollack, will take on the duties of VP, Business Development for the SRM business unit.
From the official release:
“The combination of Novell’s platform and automation management with PlateSpin’s leading solutions for workload relocation, protection and provisioning will give customers the agility to cross physical and virtual boundaries so IT can work together. Both organizations are focused on helping customers maximize the strategic value of the heterogeneous data center. Novell and PlateSpin will deliver products for complete workload lifecycle management and optimization for Linux, UNIX, and Windows operating systems in the physical and virtual data center.”
[Source: CNN Money]
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