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Technology Stocks : Corel Corp.
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To: Frank Ferrari who wrote (6576)4/20/1999 7:27:00 AM
From: A. Reader  Read Replies (1) of 9798
 
Corel turns focus on Internet graphic arts
...The royalty savings, combined with revenue from GraphicCorp's sales, will allow Corel to pay for the purchase in two years, said Michael O'Reilly, the firm's chief financial officer...
...Analysts said the deal is not a huge one for Corel but will help it expand its business selling images through subscriptions via the Internet. Corel will pay $4-million in cash -- $1.5-million now, $1.5-million in June and the balance in September -- as well as one million shares at a guaranteed price of $6.30 by Sept. 30.
That allows cash-poor Corel to make the purchase without having to account for it all right away. By the time the next payments come due, Corel will be reaping revenues from new versions of its flagship software products, WordPerfect Office and CorelDraw, scheduled for release in late May.
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