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Corel is acquired by KKR for over $ 1 billion

About six months ago, the software giant Corel announced the acquisition of Parallels, responsible for popular virtualization software. Over the next few months, the company took a beating of inspiration, introducing several updates to some of its major 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 It is officially announced today by KKR, but there is still no information on the amounts involved in the sale. $ 1 billion.

Corel previously belonged to another privately held company, Vector Capital. The acquisition appears to be a closed-door type, meaning that everything Corel has comes with it, including its facilities and the companies it has acquired (such as Parallels).

Corel CEO Patrick Nichols described the acquisition as 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 purchasing strategy. succeeded. With the support and shared vision of KKR, our management team is excited about the opportunities that come to our company, our products and users. ”

We do not know if the acquisition changes anything in the operation of Corel or Parallels for now, that everything is expected to continue as it has always been, but we will wait and see.