I know this is OLD but i just found out...
August 29, 2001
Canadian software developer Corel sold the majority of its Linux division on Wednesday to start-up Xandros, according to a statement issued by Xandros.
Under the terms of the deal, Corel will receive an undisclosed amount of cash along with a 5 percent equity stake in Xandros and a 2 percent equity stake in Linux Global Partners. Ottawa-based Xandros will have unlimited rights of use to the Corel Linux desktop operating system and related technologies for a period of eighteen months.
"Xandros combines the best of open source technologies with a corporate attention to completeness, usability, and support to benefit the end user," Xandros president Michael A. Bego said in a prepared statement.
Corel is expected to retain an ownership stake in the Linux unit of about 5 percent, with Xandros paying cash for the remaining 95 percent. Xandros is controlled by Linux Global Partners, a small New York-based holding company with stakes in a handful of Linux start-ups.
Corel's Linux division will continue to be based in Canada, with the core of engineers that helped create the unit staying on as employees, according to a Reuters report.
The Linux operating system has garnered a strong following in the programming community because it makes its underlying code freely available for programmers to use and improve, in marked contrast to closely guarded proprietary software systems such as Microsoft's.
PC Data estimates that Corel's Linux division sells about 25 percent of all Linux operating systems for desktop computers, second only to Red Hat.
Corel made a decision not to enter into a head-to-head battle with Microsoft in the business of word processing software after accepting a $135 million investment from the software giant in 2000.
Microsoft's .Net technology is expected to be embedded in Corel's product line six months after it is released sometime later this year
August 29, 2001
Canadian software developer Corel sold the majority of its Linux division on Wednesday to start-up Xandros, according to a statement issued by Xandros.
Under the terms of the deal, Corel will receive an undisclosed amount of cash along with a 5 percent equity stake in Xandros and a 2 percent equity stake in Linux Global Partners. Ottawa-based Xandros will have unlimited rights of use to the Corel Linux desktop operating system and related technologies for a period of eighteen months.
"Xandros combines the best of open source technologies with a corporate attention to completeness, usability, and support to benefit the end user," Xandros president Michael A. Bego said in a prepared statement.
Corel is expected to retain an ownership stake in the Linux unit of about 5 percent, with Xandros paying cash for the remaining 95 percent. Xandros is controlled by Linux Global Partners, a small New York-based holding company with stakes in a handful of Linux start-ups.
Corel's Linux division will continue to be based in Canada, with the core of engineers that helped create the unit staying on as employees, according to a Reuters report.
The Linux operating system has garnered a strong following in the programming community because it makes its underlying code freely available for programmers to use and improve, in marked contrast to closely guarded proprietary software systems such as Microsoft's.
PC Data estimates that Corel's Linux division sells about 25 percent of all Linux operating systems for desktop computers, second only to Red Hat.
Corel made a decision not to enter into a head-to-head battle with Microsoft in the business of word processing software after accepting a $135 million investment from the software giant in 2000.
Microsoft's .Net technology is expected to be embedded in Corel's product line six months after it is released sometime later this year