Corel Acquires One-Third Stake In LinuxForce Inc.
Wednesday, December 22, 1999 09:32 AM
OTTAWA (Dow Jones)--Corel Corp. (CORL, news, msgs) said it has acquired a one-third stake in LinuxForce Inc., Philadelphia, for an undisclosed amount.
In a news release, the company said it has also received a three-year option to increase its ownership interest in LinuxForce to two-thirds.
LinuxForce is a company organized to deliver a full-range of technical services and support for Linux.
Corel said the investment will allow it to combine its Linux product lines with a comprehensive technical and professional services portfolio.
Corel said it recently released its Corel LINUX OS desktop operating system, and more than 100,000 downloads were made in three weeks. It said the shrinkwrap versions of Corel LINUX OS will be in stores this week. It said it is also currently developing office and graphics suites for Linux. It said its WordPerfect Office for Linux suite will be available in early 2000 and its CorelDRAW graphics suite for Linux will be available in the summer.
Corel develops graphics and business productivity applications.
-Judy McKinnon, Dow Jones Newswires; 416-306-2100
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