SCO Finalizes Agreements With Investors and Law Firms
LINDON, Utah, Dec 09, 2003 -- The SCO Group, Inc. (Nasdaq: SCOX), a leading provider of UNIX-based solutions, today announced that it has finalized an agreement with institutional investors BayStar Capital Partners, II, L.P. and Royal Bank of Canada, and as previously announced, finalized its amended agreement with Boies Schiller & Flexner LLP, and associated law firms, to further align the parties' interests and to maximize value for all stockholders. SCO's agreement with its institutional investors provides them a right of consent to certain company actions that would entitle the law firms to receive a contingency fee. The agreements were included as exhibits to Form 8-K that SCO filed with the Securities and Exchange Commission today.
"Our strengthened relationship and alignment of interests with Boies Schiller & Flexner will ensure that our intellectual property rights are respected while we pursue every opportunity to grow SCO's business of providing innovative UNIX-based products and services," said Darl McBride, president and CEO, The SCO Group.
"We look forward to continuing our work to help SCO maximize the value of its important and valuable intellectual property assets, and ensure SCO's rights are defended," said David Boies, managing partner, Boies, Schiller & Flexner, LLP.
"We are all very pleased with the finalization of these agreements as they align the interests of SCO and all of its shareholders while adequately incenting the Company's legal firms to continue to zealously pursue the monetization of SCO's intellectual property rights," said Lawrence Goldfarb, managing partner of BayStar Capital.
Forward Looking Statements
This press release contains forward-looking statements relating to SCO's efforts to protect its intellectual property rights, further align its interests with the interests of its stockholders and the law firms engaged to represent it, grow its core business and maximize value for its stockholders. These forward-looking statements are subject to the risks and uncertainties related to SCO's business as described in its filings with the Securities and Exchange Commission.
The SCO Group, Inc.(Nasdaq: SCOX) helps millions of customers in more than 82 countries to grow their businesses everyday. Headquartered in Lindon, Utah, SCO has a worldwide network of more than 11,000 resellers and 4,000 developers. SCO Global Services provides reliable localized support and services to partners and customers. For more information on SCO products and services, visit http://www.sco.com .
SCO and the associated SCO logo are trademarks or registered trademarks of The SCO Group, Inc. in the U.S. and other countries. UNIX is a registered trademark of The Open Group. All other brand or product names are or may be trademarks of, and are used to identify products or services of, their respective owners.
SOURCE The SCO Group, Inc.
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