If this truly happens, then it will be a sad news. i never used Mandriva / Mandrake, however I do remember during Mandrake heyday, it was better than its closest competitor. Like Chaapala wrote "it just works."
I do not think it will be a huge loss, except for its nostalgic values. For those of us who were there during its heyday, it is sad to see such a promising star suffers such a terrible fate.
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