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Corel and Hewlett Packard form alliance

Corel has formed a strategic alliance with Hewlett Packard (HP) to bundle its software onto the hardware vendor’s scanners.

Corel has formed a strategic alliance with Hewlett Packard (HP) to bundle its software onto the hardware vendor’s scanners.

The Canadian software company said its Print House 2000 software would be included on HPs’ ScanJet 4300C scanner for the home market.

Although the announcement generated a race on Corel’s stock price, the agreement is unlikely to resolve the troubled software vendor’s predicament.

The company is currently battling a cash crunch, losing money as demand for its WordPerfect and CorelDraw products dwindles. The company recently made one third of its workforce redundant.

Sales from the company’s new line of Linux software has yet to make a significant contribution to the company’s bottom line.

“This is a nothing deal,” said Duncan Stewart, a technology analyst and fund manager at Tera Capital.