The upcoming buy out of Corel will affect neither product development nor its creative products, the company claims.

Corel is in negotiation with two venture capital firms regarding a take-over of the company. Venture capital firm Vector Holdings and Corel have reached an agreement whereby Vector will acquire outstanding Corel shares. Vector has already picked up 22.89 million Corel shares previously held by Microsoft.

Corel's executive vice president of EMEA operations Amanda Bedborough told Macworld: "This won't affect customers. At present it's business as usual. We remain committed to our creative applications. That's our business. Our existing and future customers will continue to enjoy product updates and support."

Corel plans to proceed with its product roll-out plans for 2003, she confirmed.

Some Mac users have expressed concern that the Vector may sell Corel's assets to make a return on investment capital.

Bedborough rejected this: "Vector is not a classic venture-capital firm. It doesn't invest in start-ups, but aims for mature technology-companies, and works with existing management."