Corel sells XML division

Software maker Corel announced on Friday that it plans to sell off its XMetal division, which specializes in simplified tools for creating content-based XML (Extensible Markup Language). Blast Radius, a small Canadian software maker, signed an agreement to purchase the division for an undisclosed sum from Corel, which is in the midst of paring back its business after going private last year in a $98 million buyout by a venture capital firm.

Corel CEO Amish Mehta said the Canadian company would focus on its two most significant products--the WordPerfect productivity package and CorelDraw graphics software--which have both acquired an expanding portfolio of XML capabilities. "We're not getting out of the XML business at all," Mehta said. "XML is very, very important and is very much a part of our core strategy and our core product offerings."