Novell Completes Financing of Volera, Inc.
Novell, Inc. (NASDAQ: NOVL), the leading provider of Net services software, today announced it has completed an $83 million initial financing of Volera, Inc., a new operating company targeting the emerging content networking market.
Novell, Inc. (NASDAQ: NOVL), the leading provider of Net services software, today announced it has completed an $83 million initial financing of Volera, Inc., a new operating company targeting the emerging content networking market. This completes the formation of Volera as initially announced on Feb. 2, 2001. The earlier release can be accessed at:http://www.novell.com/news/press/archive/2001/02/pr01004.html
Volera is integrating caching and content management services to create a new level of Internet intelligence that speeds and manages the delivery of content, allowing companies to realize the full business potential of the Internet. The company plans to deliver a content networking platform that supports the next generation Internet where content, media and applications are delivered in the most efficient, secure and cost-effective way possible from source to destination. Additional details on Volera can be found at www.volera.com.
Novell holds the majority ownership position in Volera. As announced on Feb. 2, the Novell Board of Directors has approved an initial plan to make Volera a publicly held company as early as late 2002. An initial public offering will be dependent on growth and development of Voleras business, future market conditions and other factors. With Volera a public company, the Novell Board's goal is to distribute Novell's interest in Volera to Novell shareholders. Any distribution of Volera stock is intended to be tax-free to Novell's US shareholders, and will be dependent on receipt of a tax ruling from the US Internal Revenue Service confirming the tax-free nature of the planned distribution, and final approval by the Novell Board of Directors.
Novell transferred products and technologies to Volera that are all in early stages of market adoption, and represented less than one percent of Novell's Fiscal 2000 revenue of $1.16 billion. As a subsidiary of Novell, Volera revenue and expenses are consolidated in Novell's income statement and financial reporting.
Volera, Inc. is transforming today's Internet into a fast, scalable and reliable business tool by providing Web hosting companies, Internet service providers (ISPs) and the enterprise with a comprehensive solution for managing the intelligent, efficient delivery of content. Volera's full suite of content networking products enables its customers to accelerate the flow of data and inject extraordinary control over the delivery and management of mission-critical content, rich and streaming media, secure data and countless Web-based applications. Volera's core technology is the Excelerator 2.0 platform, the fastest Internet caching technology in the industry based on third-party testing.
Novell, Inc. (NASDAQ: NOVL), is a leading provider of Net services software that delivers services to secure and power all types of networks the Internet, intranets, and extranets; wired to wireless; corporate and public across leading operating systems. Novell's Net services software provides the foundation for one Net a single global network that supports new applications and forms of business. Worldwide channel, consulting, education and technical support programs, along with strategic alliances, combine Novell Net services software with third-party products and services to form complete Net solutions.
Forward Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties, including assumptions about future events based on current expectations, planned business development efforts, near and long-term objectives, potential new business, strategies, organization changes, changing markets, marketing efforts, new Net services, anticipated demand for new offerings from markets that Novell is entering, future business performance and outlook. The risks and uncertainties associated with these forward-looking statements could cause actual results to differ materially. The risks and uncertainties include the following: business conditions and the general economy; changes in business choices and business partners; competitive factors; sales and marketing execution; shifts in technologies or market demand. Additional information covering factors that could cause results to differ materially from projected statements can be found in Novell's fiscal 2000 report on Form 10-K, as well as in its Form 10-Q filings.
Novell is a registered trademark of Novell, Inc. in the United States and other countries. All third-party trademarks are the property of their respective owners. Volera is a trademark of Volera, Inc. in the United States and other countries.
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