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Vector Capital Completes Corel Purchase

Time: 14:26 EST/19:26 GMT | News Source: CRN | Posted By: Jonathan Tigner

Corel officially has a new owner.

The struggling applications software vendor has been acquired by Vector Capital Group for $1.05 per share. Corel shares will stop trading on the NASDAQ Friday and on the Toronto Stock Exchange next Tuesday, the company said.

Last week, Corel got the go-ahead to complete the deal from the Ontario Superior Court of Justice following a hearing on August 21. Some Corel shareholders, the majority of which were needed to approve this deal, squawked that Vector got a sweetheart deal. Vector is paying out about $97.5 million for the company. Factoring in the Corel shares it already owned, Vector paid a total of about $124 million.

The company will go private.

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