Corel has won approval for its acquisition of US graphics-vendor Micrografx from the latter's shareholders.
The company has also appointed Amanda Bedborough, formerly of 3dfx, as executive vice president for Europe, the Middle East and Africa (EMEA). Corel calls this "a key appointment as it makes a major commitment to spur the business growth in the EMEA market".
Bedborough is to be based at a new, centrally-located office the company plans to open in London. She will be responsible for leading Corel's strategic attemp to increase its EMEA business over the next year.
The agreement to purchase Micrografx, which does not make Mac software, has been approved by its shareholders. The stock-for-stock transaction is expected to close tomorrow.
Continued support Corel will support all of Micrografx's current businesses, including the recently released Picture Publisher 10. Corel also plans to make use of Micrografx's technology and brand to expand its presence in the technical-illustration market.
The company suggests that some "cross-pollination" may occur, as Corel adds technologies taken from Micrografx to other products in its range.
Derek Burney, president and CEO of Corel, said: "Now that we have successfully brought these two companies together, we are very pleased to take the next step and make full use of our complementary strengths to realize the incredible opportunities ahead."
The companies will be eliminating approximately 200 positions due primarily to overlap identified during the integration process. Following the redundancies, Corel’s headcount will be 950 employees worldwide.
"These adjustments to our workforce demonstrate the decisive steps we are taking to realize the full benefit of this acquisition," added Burney.