Courts approve Corel takeover by Vector Capital

Corel Corp has been acquired by Vector Capital, a San Francisco-based venture capital and private equity firm that intends to take the Ottawa software company private. The announcement was made after a ruling by the Ontario Superior Court of Justice. The 18-year-old Ottawa-based Corel — once the darling of the Ottawa technology community and stock markets — has struggled for many years and was seeking a buyer. The $120-million takeover was opposed by a significant number of shareholders but more than 81% ultimately approved the Vector acquisition. No job losses are expected in the near term....