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.
