“Inprise/Borland Corporation today announced that its merger
agreement with Corel Corporation has been terminated by mutual
agreement of the two companies without payment of any termination
fees. The reciprocal stock option agreements have also been
terminated.”
“Dale Fuller, Inprise/Borland interim president and CEO
said, “Much has changed since the merger was agreed to more than
three months ago, and our board concluded that it would be best to
cancel the merger on an amicable basis.“
“Commenting on Inprise/Borland’s future, Fuller said,
“Inprise/Borland is well positioned today with improving operating
results and substantial liquid assets. Future operations will
continue to follow our increasingly successful strategy of creating
solutions that enable companies to move their businesses to the
Internet. We will create the tools necessary to leverage new
platforms for Linux, Solaris, and Windows 2000, and provide
superior services to Application Service Providers. In addition,
Inprise/Borland will continue to invest in companies and
technologies that complement this strategy.”