Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Corel Buys for $2.4Bln

NEW YORK -- Corel Corp., a Canadian maker of consumer software that is moving increasingly into the Linux operating environment, said Monday it agreed to acquire Inprise/Borland Corp., a maker of programming tools, for $2.44 billion in stock.

The acquisition will enable Corel to offer a range of applications, tools and services related to Linux, a popular free system seen by many programmers as a viable alternative to Microsoft Corp.'s Windows operating system.

Under the agreement, expected to close in late spring, Corel will issue about 53.7 million shares for Inprise/Borland, or 0.747 of one of its shares for each Inprise/Borland share.