Quote by Paul Thurrott, 'Unlike many of its contemporaries from the 1980s, Corel has also succeeded simply by surviving.' The firm initially paid $124 million for Corel and then paid $30 million to take it private in 2010.Įxpect an official announcement on Wednesday. The deal is likely a rich one for Vector. It was once positioned as the primary office productivity alternative to Microsoft Office. Unlike many of its contemporaries from the 1980s, Corel has also succeeded simply by surviving. Corel in December confirmed that it had acquired virtualization pioneer Parallels for an undisclosed sum.Ĭorel’s previous primary owner, Vector, has described the privately-held firm as “highly profitable,” and the firm is known to have “millions” of customers. Most famous for its CorelDRAW Graphics Suite, Corel owns a surprisingly vast range of software assets that also includes WordPerfect, WinZip, PaintShop Pro, and many others. It plans to give Corel an ‘infusion of capital’ to accelerate its growth, which will go into two areas, … expanding operations for the existing business making acquisitions.” “KKR is very optimistic about Corel’s prospects.

“We now have a copy of the memo provided by an internal source that has been sent out to staff announcing that the deal has indeed closed, and that Corel is now officially part of the KKR family of companies,” Techcrunch claims. The publication cites multiple sources and states that the acquisition has been confirmed.

Techcrunch is reporting that Corel has been acquired by private equity giant KKR for over $1 billion.

Software company that acquired winzip