<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 10, 2000
METACREATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number 0-27168
Delaware 95-4102687
(State of incorporation) (I.R.S. Employer Identification Number)
6303 Carpinteria Ave, Carpinteria, CA 93013
(Address of principal executive offices)
(805) 566-6200
(Registrant's telephone number, including area code)
<PAGE> 2
ITEM 5. OTHER EVENTS
The purpose of this Form 8-K is to file a press release issued by MetaCreations
Corporation ("MetaCreations") and Metastream Corporation ("Metastream") on April
10, 2000, announcing Corel Corporation's acquisition of MetaCreations' Painter,
Kai's Power Tools and Bryce product lines. A copy of the press release is filed
herewith as Exhibit 99.1 and is hereby incorporated by reference to this Item 5.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
METACREATIONS CORPORATION
(Registrant)
Date: April 11, 2000 /s/ JAY W. JENNINGS
--------------------------------------
Jay W. Jennings
Vice President, Finance and Operations
3
<PAGE> 4
INDEX TO EXHIBITS
Exhibit
Number Description
- -------
99.1 Press Release dated April 10, 2000, announcing Corel
Corporation's acquisition of MetaCreations' Painter,
Kai's Power Tools and Bryce product lines.
4
<PAGE> 1
EXHIBIT 99.1
- ------------
FOR IMMEDIATE RELEASE
COREL COMPLETES STRATEGIC ACQUISITION OF PROFESSIONAL GRAPHICS PRODUCTS
FROM METACREATIONS
KPT(R), KPT Vector Effects(R), Bryce(R)and MetaCreations Painter(tm) Extend
Corel's Commitment to Graphic Artists
Ottawa, Canada and Carpinteria, California - April 10, 2000 - Corel Corporation
(Nasdaq: CORL, TSE: COR) and MetaCreations Corporation (Nasdaq: MCRE) today
announced that Corel has acquired several industry-leading graphics software
products and technologies from MetaCreations.
Corel has purchased three leading product lines widely used in the graphic arts
community: MetaCreations Painter(tm), the Natural Media(R) painting program,
Kai's Power Tools(R) (KPT(R)) and KPT Vector Effects(R), top-selling plug-in
applications for Adobe(R) Photoshop(R) and Adobe(R) Illustrator(R), and
Bryce(R), 3D landscape creation and animation software. All products are
compatible with Macintosh(R) and Windows(R). The addition of these award-winning
applications will complement CorelDRAW(R) and strengthen Corel's presence in the
Macintosh graphics market.
"This is truly exciting news for us!" said Dr. Michael Cowpland, president and
chief executive officer of Corel Corporation. "The acquisition fits our
strategic vision of offering world-class applications for multiple platforms.
Corel is committed to developing new versions of the Painter, KPT and Bryce
product lines and supporting the existing customer base worldwide."
Corel has ambitious plans for these products, including launching new versions
for both the Web and retail distribution channels throughout the year. It also
plans to broaden the range of localized versions worldwide. Corel and
MetaCreations are pleased to announce that the MetaCreations Painter 6.0.3 patch
will soon be made available to registered users at
http://www.metacreations.com/products/painter6/patches.
"Corel is an ideal company to acquire these award-winning products with its rich
history of valuing graphic artists through innovation, graphics software
products and the Corel World Design Contest," said Mark Zimmer, the creator of
MetaCreations Painter. "This agreement also supports MetaCreations' strategy to
focus exclusively on Web-based marketing visualization solutions."
To ensure a smooth transition and continued development of MetaCreations
Painter, Corel has contracted Mark Zimmer, Tom Hedges and John Derry, the
creators of MetaCreations Painter. Corel also plans to contract additional
MetaCreations engineers to assist in the development of the MetaCreations
Painter, KPT and Bryce product lines.
MetaCreations Painter, KPT and Bryce have each won impressive industry awards
and praise: MetaCreations Painter 6 was named 1999 Macworld Editor's Choice
Award for Best Graphics Software; KPT was rated "Freakin' Awesome" (top rating)
by MacAddict Magazine in June 1999; and Bryce 4 rated 5 out of 5 by Micro
Publishing News in June 1999 and 4.5 out of 5 by MacHome Journal in July 1999.
MetaCreations will continue to handle customer service for the MetaCreations
Painter, KPT and Bryce family of products until June 30, 2000, after which time
Corel will provide full customer support.
<PAGE> 2
In addition, MetaCreations will provide technical support until May 19, 2000,
and will continue to respond to all technical support inquiries until June 30,
2000, from customers with whom they have annual support agreements. Corel will
handle technical support starting May 20, 2000, and respond to customers with
annual support agreements with MetaCreations effective July 1.
MetaCreations, based in California, sold the professional graphics software to
Corel following a decision, announced last December, to restructure its business
and focus solely on e-commerce visualization solutions for the Web.
MetaCreations' e-commerce visualization business is centered on the company's
industry-leading, patented MetaStream(tm) technology, specifically for the
streaming and display of interactive 3D virtual product presentation over the
Web. While the company decided to divest its graphics applications, it has
continued to develop and support new versions of the products. MetaCreations
expects to make additional announcements later this week regarding the
divestiture of the remaining pre-packaged graphics software applications.
The acquisition by Corel includes the following products: MetaCreations Painter,
MetaCreations Painter Classic, MetaCreations Painter 3D, Art Dabbler, KPT,
KPT-X, Vector Effects and Bryce. Corel has also agreed to honor support and
upgrade privileges to registered owners of Bryce 4, KPT 5, KPT 6, KPT Vector
Effects and MetaCreations Painter 6, subject to proof of purchase and within
applicable time limits.
Corel Corporation
Corel Corporation is an internationally recognized developer of award-winning
business productivity, graphics and operating system solutions on the
Windows(R), Linux(R), UNIX(R), Macintosh(R) and Java(tm) platforms. Corel also
develops market-leading, Web-based solutions including applications, content,
e-commerce and online services. For access to these services and more
information go to www.corel.com or www.corelcity.com. Corel is headquartered in
Ottawa, Canada. Corel's common stock trades on the Nasdaq Stock Market under the
symbol CORL and on the Toronto Stock Exchange under the symbol COR.
MetaCreations Corporation
MetaCreations Corporation is focused on e-commerce visualization solutions for
the World Wide Web, and the Company's Internet strategy is being executed
through its subsidiary, Metastream Corporation. The company is headquartered in
Santa Barbara County, California. For more information, go to
www.metacreations.com. The company's stock is traded on the Nasdaq stock market
under the symbol MCRE.
This press release contains statements that are forward looking as that term is
defined by the United States Private Securities Litigation Reform Act of 1995.
These statements are based on current expectations that are subject to risks and
uncertainties. Actual results will differ due to factors such as shifts in
customer demand, product shipment schedules, product mix, competitive products
and pricing, technological shifts and other variables. Such risks include, but
are not limited to, the following: no assurance that MetaCreations will make
additional announcements regarding the divestiture of pre-packaged graphics
software applications. For a more detailed discussion of factors that affect
MetaCreations' operating results, interested parties should review
MetaCreations' SEC reports, including MetaCreations' Annual Report on Form 10-K
for the year ended December 31, 1999, and Quarterly Reports on Form 10-Q.
Readers are also referred to Corel and MetaCreations' most recent reports filed
with the Securities and Exchange Commission.
<PAGE> 3
Corel, CorelDRAW and the Go further logo are trademarks or registered trademarks
of Corel Corporation or Corel Corporation Limited. Linux is a registered
trademark of Linus Torvalds. MetaCreations and Metastream are either registered
trademarks or trademarks of MetaCreations Corporation. Bryce, KPT, KPT Vector
Effects, MetaCreations Painter are either registered trademarks or trademarks of
MetaCreations Corporation and have been assigned to Corel. Windows is a
registered trademark of Microsoft Corporation. Macintosh is a registered
trademark of Apple Computer Inc. All other products, fonts, company names and
logos are trademarks or registered trademarks of their respective owners.
# # #
Corel Press Contacts:
Stefania Allevato (Canada)
(613) 728-0826 ext. 5003
[email protected]
Meredith Dundas (U.S.)
(613) 728-0826 ext. 1513
[email protected]
MetaCreations Press Contact:
Betty Franklin
(805) 566-6289
[email protected]
