RealTime IT News

Novell Takes Stake in NetObjects

Network firm Novell Inc. Wednesday took an undisclosed stake in Web publishing software company NetObjects Inc.

Novell joins IBM Corp. as a major corporate investor in the NetObjects.

The investment is part of Novell's $50 million Internet equity fund, which the company uses to take minority investments in development-stage companies. Novell targets companies whose products are designed to work with its Netware 5 network server and directory service.

The deal also calls for Christopher Stone, Novell's senior vice president for strategy and corporate development, to join NetObjects' board of directors.

In related news, Novell and NetObjects today announced an agreement to bundle NetObjects Fusion software with Novell's Netware for Small Business 4.2.

"We are looking forward to working with Novell to further our common goal to serve the needs of businesses creating compelling Web sites using the Netware server platform," said Samir Arora, chief executive officer and founder of NetObjects.