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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: E_K_S who wrote (5599)12/6/1996 11:18:00 AM
From: E_K_S   of 42771
 
Wednesday December 4 7:20 PM EST ...WordPerfect founder resigns Novell Inc board

OREM, Utah, Dec 4 (Reuter) - Novell Inc said on Wednesday that WordPerfect Corp founder Alan Ashton resigned from the Novell board of directors.

The company said the 54-year-old Ashton is leaving the Novell board to pursue community and other interests in Utah.

"We understand Alan's decision and wish him well in his future ventures," said John Young, Novell chairman.

Ashton had joined the Novell board following the 1994 acquisition of WordPerfect.

Novell spent $855 million to buy the software maker in 1994 only to sell most of WordPerfect's assets at a fraction of that price to Canada's Corel Corp COS.TO in early 1996.

The Corel deal called for it to pay US$10.75 million and roughly 10 million shares of its stock to Novell to acquire the WordPerfect product family. Corel also agreed to future royalty payments to Novell of at least $70 million.
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"We understand Alan's decision and wish him well in his future ventures," said John Young, Novell chairman. I guess all the SI forum members wish Alan the best as long as INTEL can now proceed with their buyout <G>. I know I do.

EKS
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