The acquisition of
Corel Corp. by the
Vector Capital Group, a venture capital and private equity firm, has been finalized. Vector Capital will acquire all the common shares of Corel for US$1.05 per share.
Corel’s securities are expected to cease trading by the close of markets Thursday on the Nasdaq and by the close of markets on Tuesday, Sept. 2, on the TSX (the Toronto stock market). Last week
Corel shareholders voted overwhelmingly to approve the $124 million takeover of the company, though a group of shareholders called Corel Rescue has fought against the deal.
San Francisco-based Vector Capital first announced its intentions to buy Corel back in March; Corel’s board agreed to the deal and purchase price in June. There’s no word yet on what the acquisition will mean for such Corel products as CorelDRAW and Painter.