Novell cleared to buy SilverStream

Germany's Federal Cartel Office has cleared the acquisition of SilverStream Software Inc. by Novell Inc., a cartel office spokesman said Thursday.

"We cleared this deal within the four-week process established for acquisitions and mergers that we view as unproblematic," the German cartel office spokesman said. "We concluded that the Novell acquisition of SilverStream would not have a negative impact on competition in the software market."

Novell, of Provo, Utah, and SilverStream, of Billerica, Massachusetts, have now obtained all necessary U.S. and foreign regulatory approvals relating to the offer, the companies said in a statement.

On June 28, the U.S. Federal Trade Commission notified Novell and SilverStream of the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Novell hopes to add a third leg to its Internet-products strategy, dubbed one Net, by buying SilverStream, a specialist in Web services application development tools. The company agreed to pay around US$212 million for the software house.

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