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Corel To Acquire XML DeveloperSoftQuad deal in definitive agreement stage
"Upon completion of this acquisition, we believe we will have the core technologies needed to realize our vision of providing customers with an expansive cross-media publishing solution," said Derek Burney, president and CEO of Corel, in a prepared statement. "We intend to give customers the tools they need to create, manage and simultaneously deploy customized content across multiple delivery channels, including the Web. This streamlined production process will afford them maximum flexibility while saving them valuable time and resources. Our solution will capitalize on SoftQuad's expertise in the XML arena and its strong partnerships with leading content management system vendors, Micrografx's innovative emerging technologies...."
Over the next several weeks, Corel and SoftQuad will work together on a comprehensive plan outlining how best to integrate the two companies. Following the closing of the deal, expected in the fourth quarter of Corel's fiscal 2001, the companies will announce further details related to the integration plan.
The transaction will be a stock for stock transaction. Each common share, or equivalent, of SoftQuad will be exchanged for 0.4152 of a Corel common share on closing. For more information, visit http://www.corel.com.
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