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CNET News.com/Reuters: Ailing Corel sells GraphicCorp division

Jul 17, 2000, 21:30 (0 Talkback[s])

"Embattled Canadian software developer Corel said today it had sold its GraphicCorp division and stock digital photo images to privately held Hemera Technologies, a deal that analysts said will not add much to Corel's coffers. The value of the deal, in which Ottawa-based Corel takes a 23 percent equity stake in Hull, Quebec-based Hemera, was not disclosed."

"It's hard to assign a value to this deal because we don't know how much Hemera is worth," said Duncan Stewart, a technology analyst and fund manager at Tera Capital. "I would be startled if this had any long-term effect on Corel."

"Under agreements signed by the companies, Corel maintains perpetual licenses to use and distribute the image content in its products and online services. Corel and Hemera also said they will collaborate to develop Internet image content services."

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