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Financial Post: Corel to sell Linux line for US$5M

Dec 16, 2000, 14:05 (2 Talkback[s])
(Other stories by Robert Thompson)

"Software maker Corel Corp. has agreed to sell its Linux line of products to a New York-based venture capital firm in a transaction that will close in January, sources close to the deal said yesterday."

"Global Linux Partners, a company that funds startups utilizing the free, Internet-based operating system, has signed a letter of intent to pay US$5-million for Corel's Linux line of products, according to sources close to the negotiations. In exchange, Corel will take a 20% stake in the newly formed company...."

"Interest in the free operating system and related products has waned since then, and companies like Red Hat Inc. and Caldera Systems Inc. have seen their stock values plummet. Corel closed down 4.8% yesterday at $3.95."

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