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Novell Sells Celerant Consulting Subsidiary
Novell said the $77 million sale, to a group consisting of Celerant executives and U.K. investment trust Caledonia Investments, won't affect its IT consulting businesses.
May 24, 2006
1 Min Read
Novell on Wednesday said it has sold its Celerant Consulting management consulting subsidiary for $77 million.
Novell said the sale--to a group comprised of Celerant executives and U.K. investment trust Caledonia Investments--won’t affect its IT consulting businesses.
Divesting Celerant allows Novell to focus on its core businesses, which the company has identified as Linux and other open-source software; systems, security and identity management; and workgroup computing. Novell said it will continue offering technology consulting services around those businesses.
Novell acquired Celerant through its purchase of Cambridge Technology Partners in 2001. Celerant has been a money drain on Novell's finances for several quarters, and late last year Waltham, Mass.-based Novell said it would explore "strategic alternatives" for selling off the business.
"The sale of Celerant allows Novell to concentrate fully on our core technology growth businesses," said Novell Chairman and CEO Jack Messman in a statement.
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