Corel announced today that it has agreed to a takeover bid by Vector Capital, a San Francisco-based company that already owns a substantial stake in the company.

At $1.06 per share, the purchase price almost exactly equals the amount of cash that Corel has on hand.

There’s no word yet on whether Vector intends to keep the company operating and keep the brand names alive, or whether it will close the doors and get its cash out as quickly as possible.

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