Feeds

Corel Holdings scoops up cash-strapped Corel Corp

Send in the snow plough

  • alert
  • submit to reddit

The Power of One Infographic

Struggling software vendor Corel Corporation has been bailed out by Corel Holdings, a limited partnership controlled by the company's majority investor Vector Capital.

Earlier this week the WordPerfect, Paint Shop Pro and WinZip software maker confirmed in an amended filing with the US Securities and Exchange Commission that Vector would acquire the 32 per cent of shares in Corel that it didn't already own.

The company justified the offer by saying the move would prevent an ugly default on loans.

Corel Holdings said in a statement today that it had successfully completed its all-cash tender offer to scoop up all outstanding common shares of Corel Corp at $4.00 a pop. However, that buyout didn't include those shares owned by Corel Holdings and its affiliates.

The outfit said it was "commencing a subsequent offering period of its tender offer to acquire all remaining common shares of Corel Corporation", which will expire on 4 December 2009. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.