Financial Post: Corel to sell Linux line for US$5M

“Software maker Corel Corp. has agreed to sell its Linux line of
products to a New York-based venture capital firm in a transaction
that will close in January, sources close to the deal said

“Global Linux Partners, a company that funds startups utilizing
the free, Internet-based operating system, has signed a letter of
intent to pay US$5-million for Corel’s Linux line of products,
according to sources close to the negotiations. In exchange, Corel
will take a 20% stake in the newly formed company….”

“Interest in the free operating system and related products has
waned since then, and companies like Red Hat Inc. and Caldera
Systems Inc. have seen their stock values plummet. Corel closed
down 4.8% yesterday at $3.95.”

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