In a move that underscores the e-business sector's hunger for
Linux operating systems, Corel Corp. grabbed Net development firm
Inprise/Borland Corp. last Monday in a stock exchange valued at
Inprise/Borland shareholders will receive 0.747 Corel shares for
each share of Inprise/Borland stock. Corel will issue about 53.7
million common shares in the aggregate, in exchange for
Inprise/Borland's outstanding shares. Inprise/Borland shareholders
will own approximately 44 percent of Corel, with the balance being
held by Corel's current shareholders.
Inprise/Borland will operate as a wholly-owned subsidiary of
Corel. Michael Cowpland will remain as president, chief executive
officer and a director of the corporation. Dale Fuller,
Inprise/Borland's interim president and CEO, will be appointed
chairman of Corel's board of directors. The headquarters will be in
With one of the largest teams of Linux developers, Corel will be
able to deliver more powerful solutions faster. Both companies will
also continue to provide support for open standards, ensuring
compatibility across Linux, Windows and Solaris platforms and
Linux is an operating system that runs on hardware ranging from
PCs and Macs to Alphas and more. Linux is used by a fast-growing
number of programmers worldwide as a platform for running Internet
servers and software applications. International Data Corp.
forecasts the Linux operating environment, including both client
and server, will grow at a compound annual rate of more than 25
percent through 2003.
Corel's work on the Linux operating system grew out of its
earlier efforts developing software for the Unix operating system.
With the release of WordPerfect 8 for Linux in December 1998, Corel
established itself as a leading software developer for the open
source operating system. To its credit, Inprise/Borland
provides the tools to create enterprise applications for the Linux
operating system. Most recently, Inprise/Borland announced the
impending release of Kylix -- one of the first rapid-application
development (RAD) tools for the Linux platform.
"With Inprise/Borland's leadership in the software development
community and Corel's Linux desktop operating system and
productivity applications, we have an extraordinary opportunity to
reach all facets of the exploding Linux market," said Cowpland.
The deal serves as a shattering counterpoint to a similar deal
inked last week when VA Linux Systems shelled out about $1 billion
for Linux-dedicated site Andover.Net in an effort to gain large
corners of the Linux market.
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