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.
