The SCO Group Inc. announced on Thursday that it would receive a 100 million dollars injection from Stephen Norris Capital Partners (SNCP) and its partners from the Middle East, which is aimed to help SCO follow its salvation plan of emerging from Chapter 11 of the United States Bankruptcy Code in the coming year.

"Not only will this deal position us to emerge from Chapter 11, but it also marks an exciting future for our business," said Jeff Hunsaker, President and Chief Operating Officer of SCO Operations.

SCO’s Board of Directors declared that the financing and the reorganization plan is the best alternative both for SCO and its subsidiaries, as well as for its customers, shareholders, creditors and employees.

SNCP will receive a controlling interest in the company, while taking it private, in return for its financing.

"This significant financial backing is positive news for SCO's customers, partners and resellers who continue to request upgrades and rely upon SCO's UNIX services to drive their business forward," Hunsaker added.

Under the new business plan, which was developed by SNCP, SCO aims at unveiling new products for the global market, while the reorganization plan will lead SCO’s legal claims through to their full conclusion.

"We saw a tremendous investment opportunity in SCO and its vast range of products and services, including many new innovations ready or soon to be ready to be released into the marketplace," said Stephen Norris, managing partner for SNCP. "We expect to quickly develop these opportunities, and to stand behind SCO's existing base of customers and partners."

The SCO Group, which is based in Lindon, Utah, is a provider of UNIX software technology and mobile services.

SCO filed for Chapter 11 in September of 2007 and has been since then seeking a financial bailout, as it was kicked off the Nasdaq in December 2007. Meanwhile, SCO seemed to have convinced the New York-based private investment firm York Capital for a 36 million dollars deal, but it fell apart in November 2007.