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InfoWorld: Corel gains extra financing, loses key staff

May 26, 2000, 21:18 (0 Talkback[s])
(Other stories by Clare Haney)

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"Trading in Corel shares was halted at the company's request earlier Thursday, signaling the likelihood of news related to the software vendor's shaky finances."

"Alarm bells had rung regarding Corel's financial standing when, in a filing last month with the U.S. Securities and Exchange Commission, the company said it could run out of cash in 90 days if its planned merger with development tools vendor Inprise didn't proceed."

"However, earlier this month Corel announced it wouldn't be going ahead after all with its plan to acquire Inprise, another company with a troubled financial history. The pair had hoped to focus the combined entity on the lucrative market for the Linux open-source operating system, but then Corel's falling share price over the last few months ultimately led to both parties agreeing to terminate the deal."

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