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Michael Cowpland | |
|---|---|
| Born | (1943-04-23)April 23, 1943 (age 81) Bexhill-on-Sea,Sussex, England |
| Occupation(s) | Entrepreneur and business executive |
| Known for | Founder ofCorel |
Michael Cowpland (born April 23, 1943 inBexhill-on-Sea) is a British-born Canadian businessman. He is the founder and one-time president, chairman and CEO ofCorel, a Canadian software company.[1]
Cowpland worked for Bell Northern Research (later part ofNortel Networks), thenMicroSystems International. In 1973, Cowpland andTerry Matthews foundedMitel Corporation, a company that developed and sold electronicPBX systems. Initial success made both founders millionaires.[2] Sales peaked at $250 million, but over-expansion and development problems saw the company bought byBritish Telecom. Both Cowpland and Matthews left the company in 1984 amid disagreements with the owners.[citation needed]
Matthews went on to foundNewbridge Networks, while Cowpland launchedCowplandResearchLaboratory (soonCorel) in Ottawa in 1985. At first, the company soldDTP workstations, but success did not arrive until the launch of the graphics softwareCorelDRAW in 1989.
In 1996, he offered a challenge toMicrosoft with a move intoproductivity software, acquiringWordPerfect fromNovell for $158 million. However this was unsuccessful as Microsoft managed to get many new computers loaded withMicrosoft Word along withWindows.[3] The company also made unsuccessful forays intoCAD,videoconferencing,Java,Linux and other developments.
He was investigated by theOntario Securities Commission (OSC) in 1999–2000 regarding allegations that he had used insider information to sell $20 million in Corel shares at $8/share shortly before the company posted disappointing results. The two sides settled the case in 2003, with Cowpland agreeing to pay $575,000.[4]Subsequent to Cowpland's alleged insider sale at $8, Corel shares hit a peak of $60/share around November 1999, during the height of the Linux boom whenCorel's Desktop Linux was seen to be a potential rival to Microsoft Windows.[5]
Michael resigned as Corel's CEO in August 2000.[5]
After an unsuccessful attempt to buyBorland with a view to creating a critical mass for Linux, Cowpland left Corel in August 2000, and moved on to buy control of ZIM corporation, a database and mobile content company which is listed on the NASDAQ bulletin board (ZIMCF).
He was married to his first wife Darlene until 1991 when they divorced. They have two daughters, Paula and Christine. In 1992, he married his second wife, Marlen Cowpland. The couple live in a $14-million 1,800-square-metre mansion inRockcliffe Park, Ontario.[6][7]