Novell hunts for acquisitions
- 30 July, 1999 13:05
Novell Australia is on the lookout for local investment opportunities after receiving the go-ahead from its US-based investment division Novell Ventures.
Cliff Smith, Novell Australia's managing director, said Novell in the US is open to the idea of securing Australian talent.
"They are happy to consider Australian companies on an individual basis," he said.
The news comes just days after Novell announced a $15 million investment in five US-based Internet and network software companies: Red Hat Software, Edgix, Indus River, Food.com, and W. R. Hambrecht + Co.
Novell's global investment push underpins its strategy to sell Novell Directory Services (NDS) into non-traditional markets.
"We are starting to identify which companies might qualify [in Australia]," Smith said.
He admitted Novell has not traditionally maintained strong links with developer and Internet companies but is keen to redress the balance.
Smith said he hopes news of Novell's investment intentions will encourage local companies to "put their hand up".
Novell has already started the ball rolling with a breakfast it held for developers yesterday morning at its annual Brainshare conference in Sydney.
Smith said he was not sure how long it will take to find its first investment opportunity.
"I'd like to do it very soon if we can," he said.