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  Corel To Acquire Micrografx
Time: 14:52 EST/19:52 GMT | News Source: Press Release | Posted By: Viper

Corel Corporation and Micrografx, Inc. today announced that they have signed a definitive agreement whereby Corel will acquire Micrografx in a stock-for-stock transaction to be accounted for as a purchase transaction. The transaction is subject to regulatory approval and approval by Micrografx's shareholders.

This acquisition represents yet another important milestone in Corel's corporate strategy which is designed to position the company for long-term growth and profitability. As announced in January 2001, Corel's growth strategy provides a framework for the company's future that is being unfolded in three phases or "horizons". For the first horizon, Corel is focused on two goals: strengthening its position in the graphics market and effectively managing its business applications division to upgrade its large base of existing users. In horizon two, Corel will more fully embrace the power of the Web by developing advanced Web-based functionality within existing and new product lines. For horizon three, Corel will develop new technology to target fast-growing emerging markets, such as wireless and Web-based services. Corel is able to advance key aspects of each horizon as a result of this acquisition.

Corel and Micrografx share synergies which, when the two operations are combined, are expected to generate new revenue opportunities and cost efficiencies from which its collective worldwide customer base will benefit.

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#1 By 2 (24.8.223.218) at 8/24/2001 10:53:21 PM
Yes, good call #2. It is on my list.

#2 By 3 (62.253.128.4) at 8/25/2001 10:42:08 AM
Me too - but it won't be around here for much longer Jagged from what I saw of the new design ;o)

#3 By 3 (62.253.128.4) at 8/25/2001 10:43:54 AM
Thanks #13 - Unfortunatly I wasn't allowed to post a goodbye to all of the users I have personally brought to this website over the past 3/4 years. I'm proud of what I have done here. Some may say I have taken the site as far as it can go, personally I think it can go even further if the right changes are made.

#4 By 860 (24.21.199.54) at 8/25/2001 11:16:00 AM
I don't think you people realize what kind of silent coup there has been here at ActiveWin. Byron has been completely ousted without warning - all his mail cut off and access. The new design and work has been done behind his back, and now he has suddenly been denied access. Byron has lived, breathed, eat, shit this website for many years and he doesn't deserve this treatment. Way to go Bob Stein and the rest of you morons who think this was a good idea. You people owe Byron much more respect than that. This was severely bad taste.

#5 By 2 (24.8.223.218) at 8/25/2001 12:05:26 PM
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