The Deal's off: Corel/Inprise

Despite their separation, the companies remain on good terms and expect to continue partnership opportunities, Corel representatives say. Corel is not charging termination fees, and a plan to realign its cost structure will save the company $US40 million.

Michael Cowpland, president and chief executive of Corel, said he was disappointed that the merger termination would not alter the company's "strategic focus," especially on Linux-related products.

The merger had recently looked to be on shaky ground. Inprise/Borland had requested a review of the transaction terms. Under the original agreement, holders of Inprise/Borland stock would have received 74.7 per cent of a Corel common share for each share of common stock in Inprise/Borland. Corel shares, however, have lost much of their value since the agreement, when they were trading in the $US19 to $20 price range. On Tuesday, Corel shares rose 40 US cents to $US5.81 in midday trading.

A variety of factors weighed on the decision to terminate the merger, Corel executives say.

"There were many factors," Cowpland says. "We're not trying to pinpoint any one factor."

The executives also addressed the company's cash position in wake of a filing last month with the US Securities and Exchange Commission. In it, Corel announced it could run out of cash in 90 days if its merger with Inprise didn't go through.

Executives say that the company has had "many offers" for financing the company and that Corel is in the process of evaluating those offers.

"We have the opportunity to make many other additional partnerships, and we will announce them in the next months," Cowpland said.

Join the PC World newsletter!

Error: Please check your email address.

Struggling for Christmas presents this year? Check out our Christmas Gift Guide for some top tech suggestions and more.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Sarah Deveaux

PC World

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?