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CNET News.com: Corel to reveal new business plan; Linux Global Partners to buy Corel Linux line?

Jan 22, 2001, 19:21 (5 Talkback[s])
(Other stories by Mary Jo Foley)

"On Tuesday, Corel is expected to reiterate its commitment to its core products--its WordPerfect Office suite, which competes head-to-head with Microsoft Office, and the CorelDraw graphics program. "We're not expecting more layoffs or major restructuring. We think that's behind them now," said Jean Orr, an analyst with BlueStone Capital."

"Industry sources said the company is not likely to go public Tuesday with details of its planned sell-off of its Linux business. Corel is expected to say that the company is continuing to evaluate its Linux options."

"Corel is close to finalizing a deal with Linux Global Partners, a New York holding company, which is expected to buy 80 percent of Corel's Linux business for $5 million and allow Corel to hold the remaining 20 percent, according to sources. But the particulars of that deal are not expected to be announced for another month or so, sources said."

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