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Corel acquired by KKR for more than $ 1 billion

Corel

About six months ago, the software giant Corel announced the acquisition of Parallels, responsible for the popular virtualization software. In the following months, the company had an outburst of inspiration, presenting several updates for some of its main products and bringing CorelDRAW back to the Mac. Now, Corel itself has been purchased by another larger company.

More precisely, the acquisition was made by a privately held company, the American KKR. The news was anticipated yesterday by TechCrunch and officially announced today by KKR, but there is still no information on the amounts involved in the sale – it is estimated, however, that it exceeds $ 1 billion.

Corel previously belonged to another privately held company, Vector Capital. The acquisition appears to be of the closed gate type – that is, everything Corel has goes together, including its facilities and the companies acquired by it (such as Parallels).

Corel CEO Patrick Nichols called the acquisition an opportunity: “KKR recognizes the value of our people and their impressive achievements, especially in terms of our commitment to consumers, technological innovation and our extremely successful acquisition strategy successful. With KKR’s support and shared vision, our management team is excited about the opportunities that will come for our company, our products and users. ”

We don’t know if the acquisition will change anything in Corel or Parallels’ operation – for now, it is expected that everything will continue as it always has, but we will wait and see.