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News > Technology
Corel, PC Chips in deal
March 30, 1999: 12:40 p.m. ET

WordPerfect maker to bundle products with PC motherboard manufacturer
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NEW YORK (CNNfn) - Corel Corp., maker of the WordPerfect suite of business tools, said Tuesday it is entering a strategic alliance with personal-computer motherboard manufacturer PC Chips Group of Cos.
     Under the terms of the alliance, Corel's WordPerfect Suite 8 will be bundled and shipped with every PC Chips motherboard and low-cost PC, which total roughly 18 million annually to over 30 countries.
     The value of the deal was not disclosed.
     "This is a phenomenal opportunity which will significantly increase the penetration of our WordPerfect productivity applications around the world," said Michael Cowpland, president and CEO of Corel (COSFF).
     PC Chips Group of Cos. manufactures hardware under several names, including 3D Micro, ECS, Astral, Protac and Asia Gate. Its competitors include Compaq, IBM, Dell and Hewlett-Packard.
     In addition to WordPerfect, Corel, based in Ottawa, Canada, also manufactures graphics applications such as CorelDRAW. Its products are developed for the most commonly used computer platforms, such as Windows, Macintosh, UNIX, Linux and Java.
     The company experienced some steep earnings losses in 1998, when revenue for the year declined 5 percent, and it slipped back into the red for the first quarter of 1999, after reporting a profit in the fourth quarter. Its stock, which trades on the Nasdaq, has suffered as well. Currently it is trading about 30 percent below its 52-week high.
     The news prompted a surge in Corel shares trading in Toronto. They jumped C$1.11 to C$5.65. By midday on the Nasdaq, where Corel also trades, the stock was up 3/4 at 3-3/4. Back to top
     -- from staff and wire reports

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.