Novell acquired WordPerfect Corp., then an independent company, two years ago.
But it has lost significant market share during the past five years as Microsoft bundled its Microsoft Word word-processing software, spreadsheet and other office products together into a relatively low-priced "suite" of applications. WordPerfect formerly commanded as much as 70 percent of the market for word-processing software. According to Charles Norris, chief financial officer of Corel, versions tuned to work with Microsoft Corp.'s Windows 95 software will be released by May. The sale ensures that the millions of users of WordPerfect software, as well as Quattro Pro spreadsheet software and other office products made by the division, can look forward to fresh versions of the products. The payment in stock, cash and royalties is estimated to be worth $186 million. of Orem, Utah, said yesterday it had sold the division that makes the once-dominant word processor to Corel Corp., Canada's largest software company. WordPerfect is getting a new lease on life.
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