BayStar invests in publicly traded companies with a mechanism called a PIPE--private investment in public equity. While Microsoft has used PIPEs in the past, a BayStar representative said Microsoft apparently hasn't ever participated in a BayStar PIPE and certainly didn't participate in the SCO investment.
BayStar Capital entered the open-source spotlight last week with its $50 million investment in the SCO Group, which is embroiled in legal wrangling over Linux and Unix with IBM and Red Hat. What the companies didn't say so loudly, though, is that $30 million of BayStar's investment in SCO was from the Royal Bank of Canada, according to a Thursday regulatory filing with the U.S. Securities and Exchange Commission. BayStar itself invested the remaining $20 million.
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- Royal Bank of Canada invests in SCO
- I think we are witnessing another form of capitalism, which may be perceived as a strategy to support Microsoft. Microsoft is a key business partner for banks.
No different than Royal Bank (or any other firm) outsourcing their IT development to India as opposed to hiring local talent.... (Read the rest) - Posted by: datasmith Posted on: 11/19/03 You are currently: a Guest | Log in | Terms of Use
the Canadians should mind their business!
screaming silence | 10/21/03
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Canadians
Yabai | 10/21/03
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Canadian Clarification
robocoder | 10/21/03
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Business decision
Rich3800@... | 10/21/03
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Linux users incensed over Royal Bank SCO investment
mgifford | 10/23/03
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Royal Bank of Canada invests in SCO
datasmith | 11/19/03
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