Short Take: Intel invests in MGI Software
Intel is reaching into its pockets to make an equity investment in MGI Software. Intel will purchase about 1 million shares of common stock for $2.8 million and will receive a warrant to purchase an additional 1 million shares of stock at $3.95 a share, expiring September 29, 2000. MGI also has entered into a related product and market development agreement with Intel to advance its PC imaging, video editing, and 3-D graphics technologies. MGI's stock fell about 7 percent in morning trading from yesterday's close of 6.
is reaching into its pockets to make an equity investment in MGI Software. Intel will purchase about 1 million shares of common stock for $2.8 million and will receive a warrant to purchase an additional 1 million shares of stock at $3.95 a share, expiring September 29, 2000. MGI also has entered into a related product and market development agreement with Intel to advance its PC imaging, video editing, and 3-D graphics technologies. MGI's stock fell about 7 percent in morning trading from yesterday's close of 6.