Corel made $13 million worth of technology trades with three companies in its second quarter, including a novel $10-million deal with a South Korean company.
Corel traded its WordPerfect Office for Java to a company called Hangul & Computer Ltd., based just outside Seoul, a senior Corel official said.
"We've given them the Office for Java source code," the official said. "They will translate it into Korean and have exclusive distribution rights in Korea. In exchange, we got some other Java code that will help us accelerate our R&D."
Mr. Cowpland discussed technology bartering during a conference call with securities analysts and reporters to review Corel's second quarter results.
"We could be paying in cash and vice versa," Mr. Cowpland said, "but the fact is that these deals are quicker to negotiate and more effective, in a way, because we build relationships as well."
"This way, we've been able to conserve cash while assembling the most powerful set of Java technology that I think anyone has anywhere," he added.
"Each deal is done using a snap shot in time as we're creating source code," Mr. Cowpland said.
"It helps the whole Java bandwagon to get going and we're innovating as we go along."
A senior Corel official said the company did a barter deal worth $2 million with publicly-traded Triteal Corp. of Carlsbad, California. It inked another deal worth $1 million with Sanga International Inc., a privately-owned developer of interactive forms in Ottawa, which is run by several former Corel employees.
ottawacitizen.com
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