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National Post: Corel soars on rival's cash

Oct 04, 2000, 19:00 (1 Talkback[s])
(Other stories by Robert Thompson)

"The value of Corel Corp. shares rose 60% yesterday following the US$135-million investment by Microsoft Corp. and Derek Burney, the interim chief executive responsible for the deal, was named as the permanent CEO of the Ottawa-based software company...."

Tim Button, a Microsoft executive and friend of Mr. Burney, sent an e-mail three days after Mr. Cowpland's Aug. 15 resignation, inquiring about the possibility of the two companies working together."

"'[Mr. Button] felt that with my appointment, and the fact that we have had a working relationship, it represented an opportunity for them to work with somebody at Corel who was interested in this type of alliance,' said Mr. Burney."

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