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Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: eyewatch who wrote (8493)	1/12/2000 11:01:00 AM
From: zax	Read Replies (1) \| Respond to of 9798

I think this is exciting news! Corel Takes Strategic Ownership Stake in Newlix: Newest affiliate makes Corel powerful end-to-end Linux solution provider Wednesday, January 12, 2000 09:12 AM OTTAWA--(BUSINESS WIRE)--Jan. 12, 2000--Corel Corporation (NASDAQ:CORL, news, msgs) (TSE:COR.) today announced it has entered into an agreement to acquire up to a 30 per cent interest in Newlix, an Ottawa-based Linux start-up company. Corel's knowledge of Debian-based Linux(r) and its experience in easy-to-use GUI (graphical user interface) development will help Newlix as it develops future generations of its Linux-based Omega server software. "This deal illustrates Corel's continued commitment to providing a complete end-to-end Linux solution," said Michael Cowpland, president and chief executive officer of Corel Corporation. "The Omega server software is based on hot Linux technology and Corel looks forward to working alongside Newlix to develop an integrated and easy-to-use solution." Newlix president and co-founder John Hansen said Corel's investment is very strategic to his company's success. "In addition to financial backing, Corel brings marketing and development support, which is of enormous value to a young company like Newlix," said Mr. Hansen. "Corel also has a strong track record in the Linux community, and its equity stake will help to establish Newlix's credentials." Newlix' flagship Omega product is networking server software based on the Linux operating system, designed for small to medium-sized businesses. The Omega server, designed to connect up to 50 networked personal computers, handles Internet connections and e-mail, sends files to printers and personal computers and can incorporate a security firewall. In November, Newlix announced they are working with IPC Direct, another Corel partner and a wholly-owned subsidiary of PC Chips. "The Newlix deal confirms the decision LinuxForce recently made to accept Corel's offer of affiliation," said Charles B Fleming president and chief executive officer of LinuxForce Inc. "The Newlix Omega server will directly address the needs of many of our small to medium-sized customers. With Corel's input and assistance, it will provide an outstanding solution for us to bring to LinuxForce's growing customer base." Corel acquired a one-third ownership stake in LinuxForce in December, 1999. LinuxForce currently provides a full-range of service and support options for the growing number of businesses that are switching to the Linux system for critical areas of operations that require robust, stable characteristics. Corel Corporation Corel Corporation is an internationally recognized developer of award-winning business productivity, graphics and operating system solutions on the Windows(r), Linux(r), UNIX(r), Macintosh(r) and Java(tm) platforms. Corel also develops market-leading, Web-based solutions including applications, contents, e-commerce and online services. For access to these services and more information go to www.corel.com or www.corelcity.com. Corel is headquartered in Ottawa, Canada. Corel's common stock trades on the NASDAQ Stock Market under the symbol CORL and on the Toronto Stock Exchange under the symbol COR. Newlix Newlix Corporation (http://www.newlix.com) is a privately funded company headquartered in Ottawa, Ontario and founded in 1999. Newlix develops software for Linux-based "thin" network appliances that meet the networking and internetworking needs of small to medium-sized businesses. The company's flagship Newlix Omega(tm) software provides a worry-free communications and networking platform, designed to be delivered in partnership with hardware vendors, connectivity providers and application service providers. This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. Readers are referred to Corel's most recent reports filed with the Securities and Exchange Commission. Corel and the Go Further logo are trademarks or registered trademarks of Corel Corporation or Corel Corporation Limited. Linux is a registered trademark of Linus Torvalds. UNIX is a registered trademark of The Open Group. Newlix and Newlix Omega are trademarks of Newlix Corporation. Other products identified in this release are the property of their respective companies. All other brands and products referenced herein are the trademarks or registered trademarks of their respective holders.