Microsoft bails out rival Corel

Published: 3 October 2000 y., Tuesday
Corel says it gets badly needed financial backing. No one utters the word "Linux." Microsoft Corp. has purchased $135 million worth of stock in struggling Canadian software maker Corel Corp., in a move characterized as a strategic alliance targeting Microsoft's .Net software development platform. The announcement after the market closed Monday sent ripples through the open-source community, but neither company was talking about what the deal could mean in terms of Linux. Corel has a version of Linux optimized for the desktop. Corel's WordPerfect desktop suite runs on a variety of operating systems, including Linux. A number of industry watchers have been speculating for more than a year that Microsoft was interested in porting its own Office desktop suite, although Microsoft has said it currently has no such plans. Corel, which was best known for its WordPerfect and CorelDraw graphics software until last year's leap into the Linux market, has been grappling with a cash crunch and stalled sales for its older product lines. In a joint conference call, executives from the two companies did not once mention the word "Linux." In response to a reporter's question about whether the deal meant that, at some point, there could be "Linux on .Net," interim Corel (Nasdaq: CORL) CEO Derek Burney said it "just might."
Šaltinis: ZDNet News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Sustainable energy for Europe

In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel. more »

EBRD’s new accountability mechanism goes into effect

The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations. more »

New local currency financing for micro and small businesses in Armenia

The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs). more »

Sirpa Pietikäinen on CITES: "Biodiversity at stake"

This year is the UN year of biodiversity and it brings endangered species into the spotlight. more »

Haiti: US$65 Million Grant to Restore Key State Functions and Infrastructure

The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010. more »

Haiti Sets Out on Path to Recovery with Broad International Support

Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake. more »

New IMF-Supported Program Will Strengthen Uganda’s Policy Design and Implementation Capacities in the Transition to Oil

A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013. more »

Common Agriculture Policy after 2013: free market will not save European agriculture

The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011. more »

Europe and Central Asia Facing Energy Crunch

The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe. more »

IMF Executive Board Approves US$790 Million Stand-by Arrangement for El Salvador

The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis. more »