InternetCorel Stays Public, Buyout Bid Pulled

Private-equity firm cancels buyout offer for software maker.

Consumer software developer Corel (NASDAQ: CREL) said on Monday its majority shareholder has withdrawn its offer to buy out the rest of the company. Corel said that Corel Holdings, which already owns 69 percent of the company and is controlled by private-equity firm Vector Capital, pulled its bid to "facilitate pursuit by Corel of alternatives for maximizing value for all ... shareholders." Had it been successful, the bid would have seen Corel go private for the second time in five years. In late March, Corel Holdings offered $11 a share for the Ottawa-based company. With 25.64 million shares outstanding as of the end of July, the deal values the entire company at about $282 million. The stock's free float is just 7.4 million shares, according to Reuters data. Corel stock fell 43 cents, or 4.6 percent, to $9.01 on NASDAQ on Monday. It was down 18 Canadian cents, or nearly 2 percent, at C$9.43 in Toronto. Corel also said a special committee of the board has been dissolved, and all its directors will now evaluate strategic alternatives for the company. Corel, which makes software such as CorelDraw, WordPerfect, WinZip and WinDVD, was once a hot firm before its fortunes sank amid the bursting of the tech bubble early... [ Read more on www.internetnews.com ]

InternetNetflix shipments back on track after severe outage (Reuters)

Reuters - Online DVD rental pioneer Netflix Inc said it resumed normal shipping on Friday after a three-day disruption, the worst in the company's decade of operations.

InternetIBM Gives a Mobile Voice to Developers

Big Blue extends speech engine to developers to spur mobile device applications.