Corel is buying Parallels in all-cash deal

“Some consolidation is afoot in the world of business software,” Ingrid Lunden reports for TechCrunch. “TechCrunch has learned from multiple sources that Parallels, the virtualization software specialist with millions of users, is getting acquired by Corel, the Canadian company behind design apps like CorelDraw and productivity apps like WordPerfect that once competed heavily with Microsoft.”

“Employees at Parallels were briefed on the acquisition Tuesday, one source said,” Lunden reports. “Terms have not been disclosed, but we understand it is an all-cash deal.”

“From what we understand, Corel will keep Parallels as an independent product,” Lunden reports. “Corel has changed ownership and gone in and out of being listed publicly a number of times since being founded in the 1980s in Ottawa. It’s now owned by Vector Capital, which is essentially the one buying Parallels. Parallels was originally founded in 1999 with roots in Russia and is currently headquartered in Bellevue, Washington… These days, Corel is ‘highly profitable,’ says Vector, selling software that includes CorelDraw, WordPerfect, WinZip, PaintShop Pro, and WinDVD.”

MacDailyNews Take: That’s quite the quintet of apps.

Read more in the full article here.

MacDailyNews Take: Our first thought: Corel is still in business? Our second: If you have to pollute your Mac with Windoze, pray for Parallels. Our third: Bring on the Apple A-series Macs! (Sorry, Corel. You lose yet again.)

14 Comments

  1. “These days, Corel is ‘highly profitable,’ says Vector, selling software that includes CorelDraw, WordPerfect, WinZip, PaintShop Pro, and WinDVD.”

    Is this quote from 1997?

  2. Was going to make a joke about my first database program Paradox and when I did a web search it turns out that Corel owns them as well!! They are the hot tub time machine of software.

  3. The first thought that crossed my mind when I saw this was what’s Corel gonna do with this acquisition when Apple does the inevitable and kicks Intel to the curb in favor of their own processors? I highly doubt being able to run Windows on a Mac will be high on Apple’s priority list when planning out this transition – Corel might’ve just bought a huge pile of obsolescence.

  4. Corel’s strength is in Windows apps… I imagine they bought parallels so that they could bridge the gap between the Mac OS and Windows. Parallels is, after all, a Mac OS X program.

    Perhaps they want to bring their apps to the Mac as well.

    1. Coreldraw used to be on the Mac for a period, no one was interested so they cancelled it. Must surely be some logic behind this that we cannot fathom. Hey I’m no software engineer but maybe there is some potential for emulation involving the Arm platform involving both Windows and Mac they are contemplating for their software.

  5. Corel is where software goes to die. Everything they have gets marketed as new versions with little to no development. You Are often given free dumbed down versions tied to some other special offer.

    Its been terrible for almost everything they have. That’s why you may guffaw at some of their titles. Used to be great brands, all has been.

  6. IMO There’s one good thing about this news.

    As a result of this acquisition, and over time, Parallels is more likely than ever to be free from Russian influence.

    Parallels has consistently gotten the best reviews, but because of their Russian roots, because of serious Russian mob involvement in hacking, and because of what we’ve heard about Kapersky Labs, I’ve been very reluctant to consider using it.

    After some time this change of ownership might begin to ease my concern.

    1. Are you serious? That’s your concern? Drink the kool-aid much? I am concerned because it’s a very necessary tool for my productivity, and that may very well go away. wha in the name of holy hell has afflicted some of you people? If you insist on wearing a tin-foil hat, I’d be a helluva lot more concerned about China than Russia. Just give me, and the rest of us, a break. The departure from reality that a great many people seem to be experiencing is unreal. Someone will do a study one day.

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