Zigler you are correct
check this out.
www5.zdnet.com
The link is very slow so here the article.
Corel to spin off new
company
By Charles Cooper
March 17, 1997 7:01 PM EST
PC Week Online
Corel Corp. may ultimately realize its plans to
develop a network computer--but another
company will sell the product.
Sources say the Ottowa, Canada-based
company plans to spin off its NC development
along with its videoconferencing and networking
technology groups.
The move, expected to be announced tomorrow,
will result in the creation of a wholly-owned
subsidiary headed by Corel's current
engineering vice president, Eid Eid. The
sources said Corel plans to take the new
company public within the next 12 to 18 months
Corel was not available for comment.
About 70 to 90 people are expected to go with
the new venture, comprising about 8 percent of
the company, which will also take the lead in
pushing Corel's NC strategy.
"The idea to is separate the companies so
Corel can focus on desktop applications and let
the other company focus on network-centric
computing," one source said.
Sources say Corel also expects to build its first
NC with video capabilities, playing off its
development work in videoconferencing and
workflow development.
"When people talked to me about Corel's NC
before, my assessment was that it was a trial
ballon," said Chris LeTocq, an analyst with
Dataquest. "Frankly, for software companies to
be in the hardware business is a hard road. By
doing it this way, it perhaps will make it easier
[for Corel] to get external investment in an area
[in which it] wouldn't want to take all the risk."
This isn't the first time Corel has flirted with
hardware development, LeTocq noted. At one
time, Corel also planned to develop a personal
digital assistant but pulled the plug on those
plans last year.
"Doing it this way makes sense," he said. "If it
flies, it flies and if it doesn't, it doesn't--but it
won't suck up resources if they fail."
I bet Terry Matthews and his 21 mil Cdn will be in on this one.
Mike |
