Corel Goes Private

prostoalex writes "Ottawa-based Corel, known for its CorelDRAW, WordPerfect, Painter and Bryce products, has been acquired by Vector Capital Corp. for $124 mln. with the intent to get de-listed from Nasdaq and Toronto stock markets and go private. 80% of shareholders approved the deal, according to the story. At certain points of its corporate history Corel was a Linux vendor and even partially owned by Microsoft. Microsoft paid $135M for 25% of the shares, so Vector Capital paying $124M for 100% stake looks like a pretty good deal." It's been over a month since this was first announced, but it's actually come to pass now.

Comments

Does anyone see IP issues inthe future?

[WanderingGhost]

How much did Corel contribute to Open Source projects? With all the problems SCO has been causing, the news about Corel going private makes me sort of uncomfortable. Could they start doing the same?

Re:Does anyone see IP issues inthe future?

[Planesdragon]

With all the problems SCO has been causing, the news about Corel going private makes me sort of uncomfortable.

You misunderstand the stock market.

A publicly-traded company, like SCO or Microsoft, has to issue quarterly earnings reports, and is simply unable to focus on anything but profit. OSS is very, VERY hard to sell to publicly-traded software shops because OSS means that they're spending capital and getting no resources in return. (Publicly-traded hardware shops, like IBM and Apple, or service-shops, like AOL, are much easier sells--they simply write off the OSS programming as "support and maintenance")

Privately-held companies, like Corel will be, are a LOT easier to convince to use OSS. They can issue earnings reports at about any interval they want, they can market themselves in odd ways, and, being free of the whims of the stock market, they can pursue their business plan without worrying too much about hostile takeovers or the tides of politics.

A good release of Wordperfect office and a very stable Linux desktop would make an almost perfect MS replacement. Even though Word is the market-leader in word-processing (which, I wager, is what most users-hours are), Wordperfect still has sufficient mindshare to challenge MS--espeically in the legal field.

gmip, pah

[DrSkwid]

you should try Corel Painter

It's where Fractal Painter went

it is one of the best "natural media" packages available

Gimp will *never* catch up without massive input and to be honest, I'd rather Gimp was frozen and another application started.

and fast!

[twitter]

Let's hope they revive that Linux package before Paladium swings into action. People want what they have and the people who want it are influential.

There's a huge market of lawfirms just waiting for this one. They are sick to death of M$ nonsense and know about free software now. Between a Linux Word Perfect for their documents and printing and Star Office for M$ translation, Microsoft does not stand a chance there. I don't have to mention that government offices would be happy to have this too, do I?

When free software makes it into those places, where everyone can see them, the myth of Microsoft dependence will be completely crushed. There's something about seeing free software running where you go for good advice that does way more than an IBM advert in the Wall Street Journal. Many good things will come from that.

Go Go, Vector!