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Corel Acquired by KKR
Canadian firm Corel Corp. was originally founded in 1985 by Michael Cowpland. At that time it became instantly famous for its graphics software Corel Draw, and for a period it was the largest Canadian software company.
In the past, Corel made some acquisitions, the more important and most lucrative was Parallels in 2018 to add virtualization to its product offering.
KKR & Co. Inc. is a leading global investment firm that manages multiple assets including private equities, software, energy, and real estate.
According to internal sources, this acquisition will not result in massive layoffs and will provide an important injection of capital to the organization.
Source: SoftwareReviews, Accessed July 8, 2019
Corel has managed to overcome the problems from the early 2000s and has established itself again as a trusted and reputable partner with a rich product suite offering that includes programs like CorelDraw, ClearSlide, Parallels, MindManager, and WinZip.
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