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For Immediate Release NOVELL TO EXIT PERSONAL PRODUCTIVITY APPLICATIONS BUSINESS
Orem UT., — October 30, 1995 — Novell, Inc. (Nasdaq: NOVL) announced today that it has decided to exit the personal productivity applications business and is in discussions to sell its Business Applications Division. The decision underscores Novell's previously announced strategy to focus on the networking software business. The Business Application Division accounted for 16 percent of Novell revenue in the company's third fiscal quarter which ended in July 1995. Novell's objective is to successfully place its Business Applications Division with an industry partner within Novell's first fiscal quarter, ending January 1996. Novell intends to ensure its award-winning PerfectOffice suite, WordPerfect word processing products, Quattro Pro spreadsheet and other business applications are well supported and continue to evolve to meet customer needs. These actions do not affect Novell's GroupWise Division, whose networked applications are among the company's fastest growing products. In addition, the Novell board of directors authorized a stock repurchase program. Under this program up to 10 percent, or approximately 37 million shares of outstanding Novell common stock, may be acquired through open market or private transactions over the next twelve months. The repurchases will be funded from Novell cash and short-term investments that currently total approximately $1.3 billion.
Novell is the leading network software provider and the second largest
supplier of PC software worldwide.
Novell Contacts: Novell Announcement 10/30/95 |
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