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September 30, 1997updated 03 Sep 2016 7:35pm

INTEL TAKES $2.8M STAKE IN IMAGE SOFTWARE HOUSE MGI

By CBR Staff Writer

Intel Corp has taken an equity stake worth $2.8m in MGI Software Corp, a Canadian PC imaging, video editing and 3D graphics software house from Richmond Hill, Ontario. Intel will buy one million shares based on the price of the shares on August 18, the date the Toronto Stock Exchange was informed of negotiations. The two companies also signed joint product and market development agreements. MGI’s PhotoSuite, which IBM Corp has been bundling with OS/2 Warp Release 4, is a photographic processing tool for PC hard disks, CD-ROMs or the Internet, and VideoWave is supposed to make it as easy to produce a video on a computer as it is to create any other document. MGI recently endorsed Intel’s Portable PC Camera ’98 design guidelines. Its other partners include Canon Inc, Sony Corp, Hitachi Ltd and Eastman Kodak Co.

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