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Corel to be bought by Vector Capitol

CowboyNeal posted more than 11 years ago | from the meet-the-new-boss dept.

Corel 161

mgeoffrey writes "Corel announced that Vector Capitol will acquire Corel by buying out all outstanding shares at $1.05 a share. They are buying 22,890,000 shares. Vector Capitol has published a full report." Looks like the natural continuation after Microsoft sold off their Corel holdings.

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cheap? (1)

odt (148500) | more than 11 years ago | (#6138441)

...or i just dont get it

Re:cheap? (1)

Neophytus (642863) | more than 11 years ago | (#6138456)

i'd call 24mill cheap

Re:cheap? (3, Interesting)

swb (14022) | more than 11 years ago | (#6138466)

It does look cheap. You'd think that Corel Draw sales alone would make that investment worthwhile, although perhaps that's all that's of any real value there once you subtract Corel's debts.

Re:cheap? (4, Insightful)

Tancred (3904) | more than 11 years ago | (#6138520)

High sales volume is great, but they're losing money [yahoo.com] , so they're worth nothing (as a whole anyway) unless someone can turn that around. Good luck to everyone at Corel!

Re:cheap? (1)

alfredo (18243) | more than 11 years ago | (#6138692)

they own Painter, and that is a terrific painting program. They never promoted it the way it should be promoted.

I have use Painter for many years, through the good and bad years. It still has a feel like no other.

Now that SCO is out of the picture, I can update.

Re:cheap? (2, Informative)

A Guy From Ottawa (599281) | more than 11 years ago | (#6138847)

I read in the Ottawa Citizen this morning that this deal (about 22 million CANADIAN) is about 75% of Corel's annual sales.

Cheap? I think so...

Re:cheap? (1)

yintercept (517362) | more than 11 years ago | (#6139151)

You'd think that Corel Draw sales alone would make that investment worthwhile

CorelDRAW! is still software. Hasn't the whole tech bubble, and OSS pretty much proven that you cannot count on the long term value of software. Drawing programs are way over priced, can you really count on people always paying substantially more for CorelDRAW! that OSS graphics programs like the Gimp?

Doesn't CorelDRAW! still own Wordperfect? Five years ago I would would have thought the Wordperfect office suite was a lucrative holding. If the company is still losing money this late in their product's life cycle, then it is a time for investors to panic.

Re:cheap? (5, Informative)

PerryMason (535019) | more than 11 years ago | (#6138543)

The post isnt actually accurate. Vector Capital purchased 22,890,000 Series A shares from Microsoft on March 10th or thereabouts at $0.5625. They are now offering $1.05 per share for the remaining stock. The board of directors has recommended that shareholders take the offer. It "represents a premium of 42% to the market immediately prior to our announcement that Vector had entered into a non-disclosure and standstill agreement with Corel," said James Baillie, Chairman of Corel's Board of Directors.

So from the point of view of the shareholders, its probably not a bad deal.

Re:cheap? (5, Informative)

PerryMason (535019) | more than 11 years ago | (#6138647)

The maths for anyone who cares;

Corel shares;
24,000,000 Series A preferred shares
91,840,000 common shares.

VC bought 22,890,000 Series A shares at $0.5625=$12.876 Million.
They now offer $1.05 per share for the remaining 1,110,000 Series A and 91,840,000 common shares=$97.6 Million.

So all up your looking at about $110 Million for Corel, 'lock, stock and barrel'.

Check out their end of quarter financial report [edgar-online.com] up to 28th Feb '03 for the lowdown on their financial position.
The long and the short is; $50 Million in cash/liquid assets, posting losses but with very few liabilities.

The plural of math is math (0)

Anonymous Coward | more than 11 years ago | (#6138899)

"The maths for anyone who cares"

The plural of math is math. You don't go around saying sheeps, do you?

Re:The plural of math is math (0)

Anonymous Coward | more than 11 years ago | (#6138949)

Depends on where you are. "Maths" is a slightly more British phrase. At least, I hear and read it frequently in British media.

Re:cheap? (0)

Anonymous Coward | more than 11 years ago | (#6139001)

Yes Frigg'n Cheap.
I'm a stock holder and when it comes time to vote on this in about 2 months I will be voting NO.

They've got over 50 million in cash and liquid assets in the bank.
There last quarterly report shows loses of only a fraction of that of a year earlyer.
They are predicted to return to profitability by late 2003 early 2004.
Vectors offer was made a few months ago and does'nt reflect the markets current increase in confidence in this sector of the stock market.

Are tech investors so impatient that they can't hold a stock for 24-48 months? Even this time frame is traditionly considered short term investing. I believe corel stock could easily go 2.50-4.00 in that time frame.

Maybe after being 'convinced' by MS to drop linux they got used to that way of doing buisness. What has Vector offered the directors in return for there supporting this deal? Are the directors that willing to give up just as corel starts to turn around?

fp (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138444)

you're gay

links to old stories? whats goin on here... (-1)

Anonymous Coward | more than 11 years ago | (#6138451)

links to old stories? whats goin on here... microsoft owned corel?

Re:links to old stories? whats goin on here... (1)

Angry White Guy (521337) | more than 11 years ago | (#6138455)

Microsoft owned a part of everything. Anytime a company had a product which MS could use, they simply purchased stock, ip rights, whatever they needed to keep market dominance.

Re:links to old stories? whats goin on here... (3, Interesting)

Kircle (564389) | more than 11 years ago | (#6138465)

whats goin on here... microsoft owned corel?

Nope. Microsoft never "owned" Corel, though they did use to own quite a bit of Corel's stock, which I believe they sold off not that long ago.

va linux buyout? (0, Flamebait)

Anonymous Coward | more than 11 years ago | (#6138457)

look at how this piece of shit stock has been rising lately. [yahoo.com]

any guesses about what's going on with this company?

I know the slashdot editors won't post any news about this since, they're 0wned by them.

Re:va linux buyout? (4, Informative)

Anonymous Coward | more than 11 years ago | (#6138593)

A lot of misinformed investors think LNUX is the maker of Linux. So between the Munich news and Balmer memo in the last couple of weeks, there are a lot of people thinking this LNUX company is the next Microsoft. CNBC compounded the problem by calling LNUX "Linux" and comparing it's chart to Microsoft.

Re:va linux buyout? (1)

elyalvarado (255958) | more than 11 years ago | (#6139158)

Well, if that misunderstanding is right means that investors thing of linux as a good thing, no matter what SCO says !!!!

Re:va linux buyout? (2, Interesting)

Anonymous Coward | more than 11 years ago | (#6139225)

Yes, there's a lot of misunderstanding about Linux and its "ownership". People in the market-oriented nations just can't wrap their head around the "community-owned product" notion.

I had an uncle who is top man in a very large engineering firm visiting last month. He was very excited to see my personal computing setup because he said the firm was considering a complete switch to Linux, from operations to desktops to development, and he knew that I ran Linux and could show him the "every day" of it that his people couldn't.

Then we got talking... While he was enthusiastic, he was obviously very confused about the ownership question. He kept talking about how the price of Linux would rise when (he was certain it would happen) Microsoft bought it and how he was increasingly tempted to call his broker and move some long-term capital into LNUX.

When I told him that Linux was community-owned and open-source, he kept saying what a good marketing strategy it had been, in spite of its unconventional nature, and how it made people "feel like" they had a stake in the system, and thus dontate free development hours to the company. He said the only downside was that it allowed competitors like Red Hat to essentially release the same product, but he was sure that Linux was ahead of Red Hat in both quality and service.

I kept trying to explain that there is no company, that Red Hat LInux is also Linux, and I named a whole pile of other Linux distributions, but it didn't really help at all, to him all of the distributions were "the competition" to Linux itself, who in his brain was LNUX.

Re:va linux buyout? (2, Insightful)

00_NOP (559413) | more than 11 years ago | (#6138634)

The really interesting thing is not the price, but the volume. Nots since the company was floated has there been this much trading in its shares.

Good luck to them, I say. A bit of financial bounce in companies associated with Linux would be good for all of us concerned with FOSS.

Re:va linux buyout? (0)

Anonymous Coward | more than 11 years ago | (#6139068)

Wow, that is impressive. It's almost back to 1% of its all time high! [yahoo.com]

Great, Painter and Bryce get another "master" (5, Funny)

ScottGant (642590) | more than 11 years ago | (#6138460)

These two programs seem to be the drunk floozies that get passed around at the frat party.

How many different companies have owned these two again?

Re:Great, Painter and Bryce get another "master" (2, Interesting)

stubear (130454) | more than 11 years ago | (#6138956)

Here's hoping Adobe is smart this time around and buys Painter and some of the Corel vector apps. The brush engine in PS & is ok but it would be a slam dunk if Adobe could integrate the Painter brush engine into PS. Corel Knockout could replace "Extract" in PS too. Illustrator could use a shot in the arm too. Corel Designer could add some sorely lacking features into Illustrator. Adobe had their chance once before when Painter was up for sale. Here's hoping this new VC puts these apps on the block and Adobe nabs them.

Can't they buy SCO as well ? (-1, Flamebait)

Anonymous Coward | more than 11 years ago | (#6138463)

Can't they buy SCO as well and kick out the upper
management ?

BUSH = IMPEACHMENT (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138468)



To put it bluntly, if Bush has taken Congress and the nation into war based on bogus information, he is cooked. Manipulation or deliberate misuse of national security intelligence data, if proven, could be "a high crime" under the Constitution's impeachment clause. It would also be a violation of federal criminal law, including the broad federal anti-conspiracy statute, which renders it a felony "to defraud the United States, or any agency thereof in any manner or for any purpose."

BUSH = WIN in 2004 (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138530)

"To put it bluntly, if Bush has taken Congress and the nation into war based on bogus information"

If there is any bogus information, it is that obtained from the former Iraqi government, which in several ways indicated that it still had "WMD".

GO FOR IT! (-1, Flamebait)

Anonymous Coward | more than 11 years ago | (#6138583)

Yes, please, all you lefties out there start pushing for impeachment proceedings. March on Washington with your "BU$H=HITLER" signs and demand impeachment. Convince the Democrats to actually go along, and get the Democrats in congress to start the impeachment proceedings. I can think of no better way to guarantee a landslide win for Bush in 2004. Hopefully, after he wins handily with ~90% electoral and ~60% popular vote, it'll shut you "SELECTED NOT ELECTED!" fuckwits up* once and for all.

(*) And by "shut you up", of course, I mean "get you to stop using that particular fucking dumb-ass argument", not "throw you in jail for having an opinion", so kindly unknot your panties and drop the fucking hyperbole. Thanks.

Re:GO FOR IT! (-1, Troll)

Anonymous Coward | more than 11 years ago | (#6138608)

Mussolini and Hitler also enjoyed massive popular support. Bush is a fascist, plain and simple.

** PUBLIC SERVICE ANNOUNCEMENT ** (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138816)

No, fascism is not the right word for it. Fascism is a different kind of political system - nothing like what we have in America. Do a web search on Italian Fascism if you don't believe me. The correct words for the American system is totalitarianism and tyranny. It is important that the left use the proper words to describe the problems we are facing in America, because if they don't then people will just think they are a bunch of ranting maniacs. Another commonly misused word is "Nazi" as in "Bush is a Nazi." This emotionally overwrought description is completely inaccurate. Bush shares no beliefs whatsoever with those of National Socialist Germany. Compare the tenets of neo-conservativism with those of Nazism and you will see that they share no similarities. "Bush is a tyrant" "Bush is a criminal" "Bush is a retard" -- yes all of these are correct, but "Bush is a fascist" and "Bush is a nazi" are not correct. By avoiding the misuse of terms you will gain credibility in the eyes of the public. We must avoid falling into the doublespeak of the ruling regime.

Bush is very anti-fascist, anti-Nazi (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138870)

Bush is very anti-fascist, anti-nazi, violating the main ideas of these ideologies:

Anti-semitism is typical a given for fascism and nazism. Bush, in contrast, very actively opposes anti-Semitism, including supporting Israel against those who want to wipe it out because its people are Jewish.

Big centralized government? Another important part of fascism. Bush deals it a blow when he resists efforts to have the government take over and wreck health care. He also reduces government power with his ideas such as a tax cut for all taxpayer

Race? Again, Bush is very anti-nazi, anti-fascist: he supports equal rights for all. This is shown in his opposition to the Michigan college admission policy which seeks to deny applicants rights if they have the wrong skin color.

Nope. You are wong (-1, Offtopic)

Anonymous Coward | more than 11 years ago | (#6138945)

Anti-semitism is typical a given for fascism and nazism. Bush, in contrast, very actively opposes anti-Semitism, including supporting Israel against those who want to wipe it out because its people are Jewish.

Anti-semetism is typical for Naziism, not fascism. Fascism is an economic term. It is a form of socialism where the means of production is controlled but not outright owned by goverment. Bush matches that description (as did just about every president after Cleveland).

Big centralized government? Another important part of fascism. Bush deals it a blow when he resists efforts to have the government take over and wreck health care. He also reduces government power with his ideas such as a tax cut for all taxpayer

Nonsense. Non-defense government spending is increasing at a 50% faster rate now than when Bill Clinton was President (see www.cbo.gov). The Lefies out to be cheering Bush. He's the best president THEY ever had.

Furthermore Bush's tax cut works out be about a $3 per week tax cut. Hardly a drop in the ocean when compared to a $2,300,000,000,000 federal budget. Of course the Democrats are worse when they yell "The Tax cut will bankrupt the nation and people will lose their favotite programs!"

he supports equal rights for all.

He does at that. Afterall, 0=0.

Ah, the old WordPerfect. (4, Insightful)

cmburns69 (169686) | more than 11 years ago | (#6138474)

Wordperfect seems to be a drag on whoever owns them. First they sold out to Novell. Then, Novell unloaded^H^H^H^H^H^H^H^^H sold them to Corel. Now it seems (and its just a shot in the dark) that they have caused hurt to yet another company.

[MS BASH SECTION]
Of course, if MS had played fair, none of this would have happened.
[/MS BASH SECTION]

Anyway, Corel just hasn't had much of a goal lately. It seems they don't know where to focus their resources; They do everything from linux to graphic software to word processing.. And none of its really working.

*sigh* It was bound to happen!

Re:Ah, the old WordPerfect. (1)

zapfie (560589) | more than 11 years ago | (#6138500)

^W is a lot faster than ^H^H^H^H^H^H^H^H

Re:Ah, the old WordPerfect. (2, Interesting)

jsupreston (626100) | more than 11 years ago | (#6138536)

This may be a little off topic, but I still consider 5.1 for DOS (the one with the blue screen and white text) the best word processor I have ever used, although doing graphics in it was a pain in the rear.

I even owned a copy of 5.0 for UNIX, but I had to through that out the other day...something about SCO source code or some other crap :). I couldn't run it anyway since I no longer have a 5 1/4 drive or a tape drive that could read the tapes.

Re:Ah, the old WordPerfect. (1)

Reziac (43301) | more than 11 years ago | (#6138886)

As I mention in another post, I use WP5.1 for DOS every day. It's my all-around workhorse. I agree it was, overall, the best (AND most bug-free) app of its kind, and that it's still able to do most wordprocessing and even DTP jobs at 15 years old (given that the base version came out in 1988) is remarkable. Graphics weren't so much a PITA as that you had to be good at visualizing how your work would look on paper.

I have v4.2 for SCO/UNIX in my collection, in the original box. (It won't run on linux, tho.) I'd like to have a complete set of every WP version ever released. :)

How to Kill Free Software (4, Funny)

jellybear (96058) | more than 11 years ago | (#6138559)

Logically, then, if someone wanted to kill the Free Software movement, they'd only have to free the Wordperfect source and then...

Re:How to Kill Free Software (1)

cmburns69 (169686) | more than 11 years ago | (#6138567)

If they release WordPerfect as open source, May God have mercy on our [free software loving] souls!

Re:How to Kill Free Software (1)

__past__ (542467) | more than 11 years ago | (#6138627)

Come on, we survived Netscape and StarOffice.

Most of us, anyway.

Re:Ah, the old WordPerfect. (4, Interesting)

Noksagt (69097) | more than 11 years ago | (#6138688)

They do everything from linux to graphic software to word processing.. And none of its really working.

I must protest. I am an fervid WordPerfect user and, until the most recent version of each, it worked far better than Microsoft Word.

I also know many who still use Corel linux (which Corel (in a move you would say was wise because it focused their resources) dropped).

I think that their software has usually been good. It doesn't work from a business standpoint, because there is already quality software that is much more popular, and people take popularity over quality any day. It is like VHS vs. BetaMax.

Re:Ah, the old WordPerfect. (2, Informative)

Reziac (43301) | more than 11 years ago | (#6138857)

Having compared WP10 and OfficeXP myself, give me WP10 any day. Not just because I'm an old WP user back to the 5.0 era, but because Word has too many deficiencies that I'm not going to put up with if I don't have to. And I can't live without PhotoPaint.

I just hope Vector Capitol doesn't screw around with the software depts, but rather beats the management and marketing depts into having some common sense. There's no good reason why Corel can't make a profit -- and they're in a good position to undercut M$'s market and make a comeback, merely by NOT forcing onerous licensing terms down customers' throats. (WP bulk licensing is VERY cheap; OEM lic. for distribution with hardware is only $15 per copy.)

I don't think "focus" is really an issue; there is nothing wrong with having both office and graphic suites, nor with acquiring synergistic programs (such as Bryce to go with CorelDraw). But once they've got the apps, Corel has had a tendency to lose direction and abandon projects in midstream, sortof like a kid who starts hobby projects but never finishes them. If they had looked beyond the short term, by now they could have had a nice corporate-friendly linux-and-office/graphics-suite offering, that would have been ready to fill the gap when enterprise IT started shying away from M$'s "Software Assurance" extortion scheme.

BTW the upcoming WP11 suite is getting good reviews; EWeek rated it very good and a desireable alternative to M$Office (WP being less expensive and more functional).

PS, I still use old WP5.1 every day, plus v8 and v10 regularly, and I own something like 18 copies of versions from 4.1 thru 10.0. :)

Re:Ah, the old WordPerfect. (4, Informative)

DragonMagic (170846) | more than 11 years ago | (#6139060)

WordPerfect is also the best word processor for writers because of its ability to properly typographically lay out a page. Word can screw up severely, even to the point that submitting a work on disk or electronically between versions or even platforms can cause your markup to be askew.

If OpenOffice.org or other open source projects want to take up where WordPerfect might be dropped (if Vector chooses to kill it or take it the Real way), Typography, Grammar/Spell Checker lookups, Document Analysis (passives, incompletes, etc) and a saved format that does not change between versions and platforms.

Word fails miserably at all of these (if you believe that Word's Spellcheck is great, check out what WordPerfect's does and be blown away). If Vector doesn't want to continue the line, or want to make it more like Word, then I do hope that OpenOffice.org or another word processing suite can take WordPerfect's place.

Re:Ah, the old WordPerfect. (1)

EvilAlien (133134) | more than 11 years ago | (#6139092)

I also know many who still use Corel linux

You know people who actually used (and still use) Corel Linux? Wow...

I just thought of something. You should keep that quiet, or you might get one of the rabid SCO legal drones after the Corel assets.

Re:Ah, the old WordPerfect. (2, Informative)

leandrod (17766) | more than 11 years ago | (#6138871)

>
if MS had played fair, none of this would have happened.

Would play fair in this case mean be late with a bloated version for MS Windows, and overpriced?

Because that was the case. The first versions of Satellite Software WordPerfect for MS Windows were confusing and bloated. There was one version requiring 6 MB RAM when the norm was 4 MB; MS WinWord at the time asked for only 2 MB. And MS WinWord was cheaper, especially if acquired in MS Office, which was also better integrated. Obviously MS could offer lower prices because of the monopoly, but Satellite could have gone the free software route; at a time, Borland even tried to sell a version of Emacs.

Re:Ah, the old WordPerfect. (2, Insightful)

SubtleNuance (184325) | more than 11 years ago | (#6138958)

They do everything from linux

They dumped Corel Linux in an effort to re-align themselves to their (then) new investment from MS, and MS promised them a role in .NET.

MS dumps Corel -- now where are they? Being bought out by some VCs? If COREL had stuck with Corel Linux, they could have used WordPerfect and Corel Office to drive the enterprise GNU/Linux adoption... they would be what Lindows so desperatly wants -- and still be able to compete w/ RedHat et al.

Leaving GNU/Linux was Corel's worst mistake in the last 5 years.

Re:Ah, the old WordPerfect. (0)

Anonymous Coward | more than 11 years ago | (#6138964)

Never tried the relatively short-lived WordPerfect for linux.

But I have to believe the fact that everyone isn't using WordPerfect is a clear indication there isn't a god. Word is a "text editor" in comparision. If a stable WordPerfect suite has any increased chance of coming to linux, that is exciting news about a proprietary program I'd pay for.

Roll the code back to about v. 6. When they started to include some Word standardization, it dumbed down the program IMHO.

Can't wait for the next version of Corel Draw (3, Funny)

Rosco P. Coltrane (209368) | more than 11 years ago | (#6138478)

with vector capitol support ...

Vector Capitol (2, Funny)

Waffle Iron (339739) | more than 11 years ago | (#6138479)

Our government has sunk to new low levels. With this news, it looks like they've even sold or given our capitol buildings to private capitalists, and now these corporate robber-barons have set up shop in the former seats of government. I guess it's fitting, because they are running this country now.

Vector Capitol (1)

AtariAmarok (451306) | more than 11 years ago | (#6138517)

"and now these corporate robber-barons have set up shop in the former seats of government."

Not only that, but from the name "Vector Capitol" I would guess that the word processing company is being bought out by the maker of the vector-graphics video game console Vectrex [roachnest.com] .

Re:Vector Capitol (0)

Anonymous Coward | more than 11 years ago | (#6139027)

Either that, or Emporer Gestal from FF VI.

Re:Vector Capitol (0)

Anonymous Coward | more than 11 years ago | (#6138675)

LOL. I wonder how many will get this.

The Sad Story Of Corel (4, Insightful)

ihatewinXP (638000) | more than 11 years ago | (#6138483)

I have had a special place in my heart for Corel for years, and now they are going the way of so many before them who tried to unsurp the Redmond juggernaut.
Honestly I am suprised they are worth 22 million, Knockout and Paint aren't what the used to be and Corel Office is dead in the water.
Maybe they will go the way of Atari, not even a company anymore but a brand that is labeled on things that the corporate office wants to draw attention to.

Re:The Sad Story Of Corel (0)

Anonymous Coward | more than 11 years ago | (#6138490)

Unsurp isn't even a word.

Re:The Sad Story Of Corel (0)

Anonymous Coward | more than 11 years ago | (#6138568)

Nonesense. It's a perfectly cromulent word [snpp.com] .

Re:The Sad Story Of Corel (1)

ptr2void (590259) | more than 11 years ago | (#6138761)

I can understand your feelings to some degree.

Is there any product (besides Draw) which they didn't manage to fuck up? Wordperfect, Ventura, Corel Linux, ...

Re:The Sad Story Of Corel (1)

rycamor (194164) | more than 11 years ago | (#6138844)

Me too. I have always thought that Corel's software was underrated. From version 6 onward, CorelDraw gave you far more for your money than anything from Adobe. Yes, Photoshop was better for... a *photo shop*, but if you were a web shop, the CorelDraw suite just made more sense.

Then they purchased another of my favorite graphics programs, Painter. I thought for sure they had something going. They even had the promising beginnings of a video editor with Lumiere, but they dropped that just as quickly as they picked it up.

Personally, I think everything else besides their graphics software was a waste of their resources. They got greedy, and wanted to stroke their pride by trying to do everything. There is only one computer company that can get away with that, and even they don't really do "everything".

Really, just think about the different areas Corel tried to take on:

1. Office Software (Wordperfect Office sutie)
2. Database software (Paradox)
3. Hardware (remember the Netwinder Linux stations?)
4. Linux distribution (apparently they did a pretty good job of their Linux distro, but how many companies were actually making money on Linux?)
5. Since I lost interest in Corel, around 2000 or so, they even tried to go in several more directions: XML content management, business process visualization, tablet PC software, you name it. Looks like a serious lack of focus.

And... just look at the promising areas--which tied right into their existing success--that thay failed to pursue:
1. Video editing - Lumiere was actually a decent little video editor for $79; much better than any other low-end editor.
2. 3D design, animation - yeah, I know they bought Bryce 3D, but that is only for a certain class 3D work, and not at all good for animation.
3. Web design software - remember Corel Web Designer? I designed my first website with that, back in '96. At the time, it was one of the best tools out there. Again, Corel dropped it within a year.

Vector own Real Networks! (4, Informative)

Znonymous Coward (615009) | more than 11 years ago | (#6138488)

And by the looks of this page [vectorcapital.com] , Corel is just another dog to add to thier lackluster portfolio.

Vector Capitol? (1, Insightful)

blitzoid (618964) | more than 11 years ago | (#6138489)

Now I just may be stupid, but this is the first time I've ever heard of 'Vector Capitol'.

Who are they? Have they done anything I might know of?

Also, bring back CorelDRAW for Linux, damnit!

Re:Vector Capitol? (4, Insightful)

ThogScully (589935) | more than 11 years ago | (#6138510)

I'll second that - I'm a huge CorelDraw zealot as I've been using it for years. I know the "real" pros use Adobe, but most of those people probably don't realize how ahead of the curve Corel was for graphics technology at times.

The interfaces between the packages were so different that to an Adobe person, Corel seemed lightweight and useless and from my perspective as a Corel user, Adobe often looked the same. Either way, preference goes and I miss using Corel a lot. I got a version of Corel9 for Windows running in WINE, but would much rather get the latest versions...

Somehow, I think Vector Capital may be doing this though... I can't imagine what they expect to do at this point, but it will probably be focusing on something that won't compete with MS at least until Corel gets back on its feet. If so, CorelDRAW is the perfect candidate to bring back to the market.
-N

Re:Vector Capitol? (1)

SiO2 (124860) | more than 11 years ago | (#6138622)

Sure, CorelDraw is great for graphics if you only want to see your images on screen. You will grapple with the beast if you even think about sending a CorelDraw file to a Postscript RIP, which will choke, puke, sputter, and die when it receives the file. I grew up in the "desktop printing" industry, beginning in 1998. I know how uneasy it is to output CorelDraw files.

Re:Vector Capitol? (1)

ThogScully (589935) | more than 11 years ago | (#6138697)

My experience in all sorts of output mediums, including some PS RIPs in desktop printing showed Corel to be much more valuable than Adobe. The input and output filters by shear number and feature implementation were second to none.
-N

Re:Vector Capitol? (1)

rycamor (194164) | more than 11 years ago | (#6139197)

My experience doesn't bear this out at all.

>I grew up in the "desktop printing" industry, beginning in 1998.

Hehe, by that time I was leaving the "desktop printing" industry, and getting back into programming. I already had a portfolio of very nice work, all output from Corel and (gasp...) DESIGNED ON A PC, and almost every time I showed this work to a typical Mac/Photoshop zealot, they were shocked. Some of them simply refused to believe you could do this wort of work on a PC, much less with Corel. (And I'm not talking about business cards. More like full-page, full-bleed brochures, ads, etc... usually output at a nice high line-screen). Not that I hated Adobe/Mac, but I was able to accomplish similar things at less than half the price with Corel/PC.

Re:Vector Capitol? (1)

Reziac (43301) | more than 11 years ago | (#6138906)

I have both PhotoPaint (which I use every day) and Photoshop (which I only haul out when I need some esoteric function that PhotoPaint doesn't do). Yeah, Photoshop may be what the "pros" use, but for most purposes, Photopaint will get the same job done in a fraction of the time, and with a far gentler learning curve.

It was quite a sinking feeling to see Corel lose its independence. I just hope this Vector Capital really intends to help Corel get their act back together, not bury it for good.

Re:Vector Capitol? (0)

Anonymous Coward | more than 11 years ago | (#6138597)

I never heard of Enron until the scandal broke. In the modern world, we are being controlled by corporations that prefer to hide in the shadows, about whom most know nothing.

Re:Vector Capitol? (1)

MaxQuordlepleen (236397) | more than 11 years ago | (#6138648)

err, Enron had a Major League Baseball stadium in Houston named after them. Not exactly low profile, bud...

Re:Vector Capitol? (0)

Anonymous Coward | more than 11 years ago | (#6138632)

Let's take the a second and read their webpage: Vector capitol seems to be .... hmm ..... some
kind of vague 'consulting and investment' business. The do not appear to be programmers, or to sell hardware -- although their 'portfolio' seems to contain a great number of 'techy' companies.

Do I smell bankers and lawyers?? (i.e fiscal vultures?)

Re:Vector Capitol? (1)

denzombie (561408) | more than 11 years ago | (#6138690)

Forget CorelDRAW for Linux. Sodipodi [sourceforge.net] is shaping up as an excellent vector graphics program for Linux. Now if only Adobe and Mozilla would sort out support for SVG, the world would be a happy place.

fuck linux (0)

Anonymous Coward | more than 11 years ago | (#6139248)

why the fuck would corel want to spend millions developing software for Linux when the users of Linux are dipshits and don't want to pay for software?

Wouldn't it be nice Corel Draw where Open source? (2, Insightful)

deragon (112986) | more than 11 years ago | (#6138494)

It would have been nice that governments of developped countries would have shipped in, bought Corel for $24 millions and released all their products as open source...

Generic applications should be seen as public services, the same as roads and services....

Good way to keep the Third World undeveloped (0)

Anonymous Coward | more than 11 years ago | (#6138548)

"It would have been nice that governments of developped countries would have shipped in, bought Corel for $24 millions and released all their products as open source..."

Good way to keep the Third World underdeveloped: give them primitive stone-age software for free.

Why not instead go to Sourceforge or similar sites and look for viable recent and up-to-date open source software?

Re:Good way to keep the Third World undeveloped (2, Insightful)

TheRaven64 (641858) | more than 11 years ago | (#6138709)

was to play Wolfenstein-3D.

I'd love to. Perhaps you could provide a link to a vector drawing package that is as good as Corel Draw? With the same amount of (actually useful) clipart?

Re:Wouldn't it be nice Corel Draw where Open sourc (2, Interesting)

dankelley (573611) | more than 11 years ago | (#6138564)

Heck, even developing countries might save money by funding open-source efforts instead of paying license fees. Every government desk has a computer on it, and pretty much every one of those is using a microsoft OS... does anybody know what that costs?

Re:Wouldn't it be nice Corel Draw where Open sourc (1)

axxackall (579006) | more than 11 years ago | (#6138638)

$24M? it's just about $1M per country if 24 goverments are in.

Counting the fact that first class countries must help third ones, it makes sense if G8 + other next 16 the most developed ones will pay it. Actually it's them who should be blamed for the Microsoft monopoly. So, let them fix what they've done. And the price ($1M) is not really high for that.

Ok, bad pun time... (2, Funny)

rusty0101 (565565) | more than 11 years ago | (#6138504)

It looks like Corel has drawn to a conclusion.

-Rusty

Re:Ok, bad pun time part 2... (1)

Snork Asaurus (595692) | more than 11 years ago | (#6138701)

Given their original & core business and the new owner, perhaps Corel will be renamed Vector Graphics.

I'm sorry, but someone had to say it.

Does anyone here check facts? (5, Informative)

Bob Cat - NYMPHS (313647) | more than 11 years ago | (#6138526)

The sale price is $98,000,000.

http://biz.yahoo.com/rc/030606/tech_corel_vector _3 .html

I didn't make that a link because I wanted slashcode to annoy you with the extraneous blank.

Re:Does anyone here check facts? (1)

ptr2void (590259) | more than 11 years ago | (#6138737)

Check facts? On /.?

BTW, shouldn't we make a link of that :o)

Re:Does anyone here check facts? (0)

Anonymous Coward | more than 11 years ago | (#6138788)

s/slashcode//

Retro applications? (1)

AtariAmarok (451306) | more than 11 years ago | (#6138539)

I know the interest in retro gaming, but the interest in Corel seems to be part of a desire for "retro apps", nostalgia for good old long-outdated Word Perfect.

By the way, anyone know what ever became of Wordstar?

Re:Retro applications? (1)

Snork Asaurus (595692) | more than 11 years ago | (#6138713)

Microsoft bought it to learn about intuitive user interfaces.

Apple has lessons to learn (0)

Anonymous Coward | more than 11 years ago | (#6138891)

"Microsoft bought it to learn about intuitive user interfaces."

Better give it to Apple. They still don't grasp the basics of representative icons in user interface.

A chief example is the "trash can". It should mean destroy, right? Yet, when you drag a removable media icon to the Apple trash can, it does not format/erase/destroy: it ejects it.

The Windows method for this has made more sense: you choose something called "eject" to eject media (or press an eject button, the easiest method. The buttons are often missing on the Mac!), and the trash can is used for destroying files.

Re:Apple has lessons to learn (1)

zakezuke (229119) | more than 11 years ago | (#6139030)

The Windows method for this has made more sense: you choose something called "eject" to eject media (or press an eject button, the easiest method. The buttons are often missing on the Mac!), and the trash can is used for destroying files.

I think this is a pretty poor example. I'm no fan of the mac, but there was a reason they did things this way. In fact, I like how the mac handles the floppy drive. Keep in mind that there was a time when floppy disks were actually used by people, and early macs were released without hard drives. It being turn key technology, and users not understanding that you nessicarly needed to keep the disk in when it was loading up aspects of it's OS, or when writing to a disk, mac control provided an eliment of safty. Unlike microsoft dos, the mac responds to you putting a floppy in. Always has, major bonus when installing multi disk applications. There is a disk change line that windows seems most oblivious to. If you are talking CD-rom, all the macs I know have eject buttons, but there are provisions to over-ride the user if the computer still needs that disk. The whole trash can thing I admit was silly, most people I new either used apple-e to eject, or did so from the onscreen menu.

But as far as corel, I would agree. Last time I looked at it, it was using a very dated windows 3.1 style interface. I found it most tedius to use, basicly having to recal how I would operate a vintage piece of software. Corel doesn't really have a product I use, but my mother does. Vast collection of clipart and ease of adding borders to family photos. A few large stumbling blocks like duplex printing that never works right. It has an idiot proof system where you print a page, turn it over, and print it again and you tell it what sorta orientation it has. No one is really sure as to how you flip the page, and wished there was an over-ride button so it wouldn't print this page every time. But aside from irrating annoyances and large stumbling blocks, corel does have a few products geard tward my grandmother.

Re:Apple has lessons to learn (0)

Anonymous Coward | more than 11 years ago | (#6139082)

Yeah, but if you mod the springs in your floppy drive and position your physical trash can just right, the metaphor becomes accurate.

BTW, there was still a menu item for eject, the current OSX changes the trash icon to an eject icon at the appropriate times, and Macs don't have floppy drives anymore.

I smell a conspiracy (1)

bj8rn (583532) | more than 11 years ago | (#6138560)

First, Microsoft sells their Corel stocks. Then, a Microsoft executive sells some of his stock in the Company. Am I the only one who sees a pattern here? They must be in trouble...

Re:I smell a conspiracy (4, Insightful)

Locutus (9039) | more than 11 years ago | (#6138656)

I think the pattern is more like this:

Peru is considering Open Source and GNU/Linux

India is considering open Source and GNU/Linux

Germany is considering open source and GNU/Linux

etc, etc, etc

Bill and Steve travel to Peru, China, India, Germany, etc and offer hundreds of millions of dollars to stop any migration to GNU/Linux and OSS.

Peru still continues move to OSS and GNU/Linux

Indian president proclaims need to move to OSS and GNU/Linux

Germany/Munich starts move to OSS and GNU/Linux

etc, etc, etc.

Steve Balmer decides he'd like to have SOMETHING left from his years at Microsoft so he starts selling some stock.

Leaked MS memo shows to the public that GNU/Linux and OSS really is a concern/threat to Microsoft.

In the mean time, Corel has been spinning it's wheels on figuring out what/how it's going to do anything with MS.Net then realizes there's nothing in it for them and that there's no money left in the bank. They put up a "For Sale" sign.

GNU/Linux companies find renewed interest in their companies/stock. ( not chronologically exact ;)

LoB

Re:I smell a conspiracy (0)

Anonymous Coward | more than 11 years ago | (#6138966)

You guys are soooo cute with your little theories! I wish I had a camera right now! It's adorable!

OSS Buyouts (4, Interesting)

Anonymous Coward | more than 11 years ago | (#6138606)

$22 million for Corel? Hell. It's time for the open-source community to start considering buyouts. That's about US $1.22 per user, according to one estimate [li.org] . Not a high price to pay for the WP and Corel Draw source.

Re:OSS Buyouts (1)

zakezuke (229119) | more than 11 years ago | (#6139044)

Problem is in cases where i've seen that tried, some other company with a bankrole comes in an snags it. Unless there was a public trust exclusivly for the purpose of buying up companies to add their welth to the OSS movement, it's none too practical as it takes too long to aquire funds from public.

Corel: the shitty software magnet (-1, Flamebait)

Anonymous Coward | more than 11 years ago | (#6138652)

If you look at Corel's lineup of software, you can see that their general idea is "buy shitty software copy, put our name on it, and make it even shittier". Wordperfect, Borland, Debian Linux, XAOS, Bryce, Painter... take your pick. It's like a software nursing home, where old software goes to die.

What an astounding waste of money (2, Insightful)

nagora (177841) | more than 11 years ago | (#6138696)

You can tell it's not their own cash on the line.

Ouch! (3, Interesting)

theolein (316044) | more than 11 years ago | (#6138710)

The graphics software market is something that no one ever really looks at closely, most people preferring to speak their mind on office and operating system software. While there have been various legal suits in this market (Adobe-Macromedia), it doesn't enjoy the high profile that Microsoft word does.

Corel getting bought out by the people who now own Real is not a good sign for Corel users. As someone who actually sold and supported version 1 of Corel Draw back on Windows 2.11 in 1989, I have watched this piece of Software go the way of many other innovative products. Corel was by far the leader in vector illustration software in the early years on Windows as there was no competition to speak of. Then Freehand and Illustrator were ported and those pros who use Windows (good luck) used these.

Corel never learned the lesson why the other programmes were taken seriously and CorelDraw was not: Quality. CD's enourmous amount of features and gimmicks mostly only got in the way. The programme's instability and ,even to this day in CD 11, sometimes wildly inaccurate colourschemes and positioning, are the reason why almost no pros use it.

Corel has had almost no direction or focus, and buying up other software houses' products in order to bolster their bad model (Painter, Bryce, Knockout, Word Perfect, Ventura) only fragmented an already overworked development team.

I think I will buy Painter 8 now, before it ceases to exist. CorelDraw will probably carry on haunting the world in the form of die hards who still think Corel is fantastic, but I somehow doubt that we'll see any new versions of WP, Ventura, Bryce or Painter.

R.I.P.

Bryce (5, Insightful)

macaddict (91085) | more than 11 years ago | (#6138741)

This is interesting, considering Bryce for Mac was just killed. From MacCentral [macworld.com] and MacNN [macnn.com] . The Corel suit won't give a straight answer, but the Bryce page no longer lists a Mac version.

Corel was apparently looking for a buyer for Bryce. How this buyout will affect things, who knows. But I'm not going to get my hopes up for Bryce to ever run on the Mac again.

But, we still have Vue [e-onsoftware.com] . And Eric Wenger, the original creator of Bryce, posted on the U&I forums that he is working on a new landscape creator. Demo images [uisoftware.com]

Enough!!!!! (2, Interesting)

micaiah (593598) | more than 11 years ago | (#6138766)

What I can't understand is why these companies can't get their act together and come to the realization that they aren't going to be able to compete with Microsoft on their own? What there needs to be is a coalition of companies to offer an alternative solution. e.g. Novell, Sun, Red Hat, Suse, Oracle, and Corel should work together to offer complete solutions that work together. This is one of Microsoft's biggest selling points right now. They offer solutions that tie together with IMHO closed standards. Why can't the aforementioned do the same with collaboration and open standards?

Gee... (0)

Anonymous Coward | more than 11 years ago | (#6139057)

That sounds a lot like the old OSF..and you know just how successful THEY were.

Word Perfect still has legs (1)

hndrcks (39873) | more than 11 years ago | (#6138784)

Here in DC I do support work on the side for small law firms - at least 50% of the firms I have been to have some (legally licensed!) version of WP installed on workstations - usually next to a copy of MS Office.

There are lots of people who still use WP - their market share isn't great but the total number of users certainly isn't anything to sniff at - I bet IBM would kill to have the WP userbase to switch to SmartSuite...

capital vs. capitol (2, Informative)

Anonymous Coward | more than 11 years ago | (#6138828)

Capitol is where the head of a government is.
Capital is goods or money.

Its not very hard.

Notice the original Slashdot poster got it wrong (Capitol) but -- thank goodness -- Vector got it right
on the linked site (Capital).

Dead, anyway. (2, Insightful)

mcgroarty (633843) | more than 11 years ago | (#6138872)

Corel won't even let you register CorelDraw and similar without agreeing to submit your physical and 'net locations to a sleazy "opt-out" spam house, presumably so they get a kick back, and further -- installs spyware (according to AdAware, anyway) on your system. This is bullshit in what's supposed to be a $500 professional package. CorelDraw is about their only remaining money maker, and they're driving customers away.

I took mine back to the store, exchanged it as decective, then turned around and returned the unopened copy. Good riddance.

hey cowboy neal - stop packing fudge and (0)

Anonymous Coward | more than 11 years ago | (#6138883)

learn to f**king spell! capital = $$$ Vector Capital is a venture capital company...

It's Vector CapitAl. Please change headline... (3, Informative)

SlashChick (544252) | more than 11 years ago | (#6139073)

Several anonymous cowards have already pointed this out, but I thought I'd point it out at +2:

The name of the company is Vector Capital (as in venture capital.) Please update the article.

Thanks.

What about the Corel Centre? (0)

Anonymous Coward | more than 11 years ago | (#6139121)

are they going to rename it to the Vector Capital Centre?
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