Vector, Corel Deal Awaits Approval

San Francisco-based Vector Capital Corp. will buy all of the outstanding common shares of struggling Canadian software maker Corel Corp., providing the deal is approved by a court and shareholders.

This follows a report by eWEEK Thursday that Corel was set to be acquired by Vector Capital. In March, Corel admitted that it was actively trying to find a buyer for its business and had signed a non-disclosure and standstill agreement with Vector Capital that let Vector investigate a takeover bid.

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