In October 2000, Microsoft acquired a 24.6% share in Corel for $135 million.
It has now signed a deal to sell its shares – for a total of less than $13 million.
Microsoft’s cash infusion had saved Corel from going bankrupt a couple of years ago. The Microsoft purchase was characterized as a partnership for Corel to make applications for Microsoft’s .NET platform. That partnership turned out to be unimportant, and Corel is no longer arguably a player in any field at all. Corel has failed at virtually everything it’s tried. Microsoft is selling its Corel stock for 56 cents a share.
Here’s an article about Microsoft’s decision to bail out.
