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Corel Corp. will close its digital imaging operations in Eden Prairie, recording a related restructuring charge of about $2.2 million in the fourth quarter.
The Ottawa-based company said the closing is a result of increasing its focus in the digital media market by concentrating on its operations in China and California's Silicon Valley.
About 50 people who work at Corel in Eden Prairie will be laid off when the office closes in May, said Catherine Hughes, a Corel spokeswoman. The Corel operation consists of the former Jasc Software, which Corel acquired in 2004. Its chief consumer products, the photo capture and editing programs Paint Shop Pro Photo and Corel Media One, will continue to be offered by the parent company.
Corel said the benefits of the restructuring will be realized in the beginning of the second half of 2008. It believes the move will speed up its development process and operational efficiency among software development, product management and marketing teams.
Corel develops graphics, productivity and digital media software worldwide.
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