SCO raises $10 million for Linux fight
SCO is the company that has sued IBM and others claiming that Linux uses UNIX source code that belongs to SCO. This saga has been ongoing for a long time.
CNet and Groklaw (the site for tracking the SCO/Linux issue)report that SCO just raised $10 million in a private placement. It seems that the funders were existing investors, not new ones.
SCO is reported to have said: “The proceeds should ensure that the company has adequate funding to pursue its existing business strategies, including the resolution of the company’s existing legal proceedings,”
In other words, these investors are gambling that SCO will make enough money from the lawsuit to pay them back – and they have sunk so much into this already, they can’t turn back.
