I'd hate to see Mandriva die but the board have been playing yo-yo financing for many years now. Booming then (nearly) busting then Booming then (nearly) busting then Booming then (nearly) busting then... well you get the picture.
I lost all sympathy for the board of directors after they sacked founder Geal Duval when the overextended themselves after acquiring Conectiva & Lycoris.
I would have preferred Mandriva to be taken over by the community or possibly taken over by Red Hat or some other open source company with a working business model. A merger with PCLinuxOS or Fedora wouldn't be sooooo bad.
I don't know why, but i just get a bad feeling about this take over by IF Research, parent company of the software editor Wallix