November 01, 1999 16:46
CorelVIDEO(tm) Division Acquired by simply.com Inc.
OTTAWA, ONTARIO--Corel Corporation (NASDAQ: CORL, TSE: COR) today announced that it has signed a deal to transfer substantially all of its assets related to the CorelVIDEO(tm) product line to simply.com Inc. Terms of the deal are not being disclosed.
The sale of CorelVIDEO completes the business plan that Corel put into place in 1998 to concentrate on its core technologies, WordPerfect(r) and CorelDRAW(r). In December, 1998, Corel signed adeal to sell its jBridge(tm) software to GraphOn Corporation. And in January, 1999, Corel announced that it had sold its Corel Computer NetWinder(tm) division to Hardware Canada Computing (now Rebel.com).
simply.com Inc. is a privately-held company with offices in Mississauga, Ontario and Tempe, Arizona. Manufacturing is based inMontreal, Quebec. The company's Web site is www.WeAreSimply.com.
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