VA Linux to Acqire Andover.Net for $975 Million
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VA Linux System Inc., announced Thursday that it plans to acquire Andover.Net in a deal worth nearly $1 billion dollars. Andover.Net, a collection of sites for techies and programmers, acquired popular techie site, SlashDot.Org late last year. The stock and cash agreement, currently worth $975 million, calls for each Andover.Net share to be exchanged for 0.425 of VA Linux Systems’ stock. Eventually this amount would be reduced, by a plan of comprehensive cash payments totaling $60 million dollars.