InfoWorld: Corel gains extra financing, loses key staff

“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

“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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