For Immediate Release
Corel Corporation and Hardware Canada Computing Close Deal
Corel exchanges its Corel Computer NetWinder(TM) division for a
25% equity stake in Hardware Canada Computing
Ottawa, Canada-February 18, 1999-Corel Corporation and Hardware
Canada Computing (HCC) today announced the completion of an
agreement to transfer Corel’s NetWinder(TM) business to Hardware
Canada Computing.
“We are pleased to report that we have completed the deal as
planned,” said Dr. Michael Cowpland, president and chief executive
officer of Corel. “Interest in the NetWinder has been strong, and
we are confident that HCC will have success with it. We are
currently focusing all of our efforts on our software applications,
and specifically on our two core products, CorelDRAW and
WordPerfect.”
Based in Ottawa, Canada, HCC was recently recognized as the 14th
fastest growing IT company in the Financial Post/Deloitte &
Touche Technology Fast-55. HCC is well positioned to serve major
world-wide telecom companies.
“This is an exciting day for Hardware Canada Computing,” said
HCC president Michael Mansfield. “We are proud to marry the solid
Linux expertise of Corel Computer with our leadership in UNIX. And
combined with our recent acquisition of PC manufacturer Mask
Systems, we’re now able to offer an unbeatable range of products
and services across the enterprise.”
The agreement, first announced on January 20, 1999, will see the
transfer of the NetWinder business to Hardware Canada Computing in
exchange for a 25% ownership stake in Hardware Canada
Computing.
Approximately one third of the 73 NetWinder division employees
have been hired by HCC. The majority of the remaining employees has
been absorbed by Corel. Fewer than a dozen positions have been
declared surplus.
No further terms of the agreement are being disclosed at this
time.
Corel Corporation
Corel Corporation is an internationally recognized developer of
award-winning graphics and business productivity applications.
Development of market-leading products such as the CorelDRAW(TM)
line of graphics applications and the Corel® WordPerfect®
Suite of business tools is continually evolving to meet the demands
of the corporate, retail and academic markets. Committed to
performance, compatibility, value and open standards, Corel
develops products for the Windows®, Macintosh®, UNIX®,
Linux® and Java(TM) platforms. Corel’s common stock trades on
The NASDAQ Stock Market under the symbol COSFF and on the Toronto
Stock Exchange under the symbol COS. For more information visit
Corel’s Web site at www.corel.com.
About HCC
Incorporated in February 1987, Hardware Canada Computing is a
privately held company located in Ottawa, Canada. HCC manufactures
its own line of SPARC/UNIX based systems under the brand name
Horizon. In addition to its Horizon brand of SPARC systems, HCC is
an original equipment manufacturer for the Telecom market,
providing this niche market with SPARC motherboard, rack mount
systems. HCC also resells a complete line of UNIX/NT products from
Hewlett Packard and Silicon Graphics, as well as, file servers and
NetCache products from Network Appliance. HCC is one of the largest
resellers of Sun Microelectronics in Canada. For more information,
visit HCC’s website at [www.hcc.ca].
Corel, WordPerfect, CorelDRAW and the Go Further logo are
trademarks or registered trademarks of Corel Corporation or Corel
Corporation Limited. Linux is a registered trademark of Linus
Torvalds. UNIX is a registered trademark of The Open Group. All
other product and company names are trademarks or registered
trademarks of their respective companies.
Corel Press Contacts:
Nicole Sanford (Canada)
613-728-0826 ext. 5046
nicoles@corel.ca
Catherine Hughes (US)
613-728-0826 ext. 1659
catherineh@corel.ca
Hardware Canada Computing Press Contact:
Jessica Gould
High Road Communications
613-236-0909
jgould@highrd.com