Corel claims to be going "full speed ahead" with the development of the software titles it recently purchased from MetaCreations, despite its financial problems.

Meredith Dundas, a Corel spokeswoman, said: "As for the ex-MetaCreations products – we are moving full speed ahead. Since we finalised the agreement in April, we have released Corel Painter (6.0.3)."

The company is hatching "aggressive" plans to update the programs during the summer – she told Macworld that Bryce should reach version 4.1 during this period.

Corel will issue upgrades to its products, for example Bryce 5, in the first half of next year, she said.

Corel has had financial troubles in recent months, following its failed merger with Inprise/Borland. The company axed ten per cent of its staff just weeks ago, as part of a general budget-slashing strategy.

The company announced an OEM deal with Wacom, last week, through which Wacom will bundle Painter Classic with Wacom’s range of graphics tablets.