After purchase Corel took in a family of companies KKRАнна Saveliev | 03.07.2019
According to internal documents of the company, KKR acquired Corel, after only six months after she bought Parallels. The official announcement was planned to do the following
week.
The American investment group KKR (Kohlberg Kravis Roberts) has closed a deal to buy the company to Vector Capital, which was owned by Corel with 2003. The intention was announced back in may and then
according to Pe Hub, the conversation was about the sum of $ 1 billion dollars. At that time, the Corel representatives declined to comment and both sides kept it secret.
And not in a hurry to disclose all the information, but according to TechCrunch the deal is really closed and the purchase price will be just $1 billion, According to the document, on which he
references KKR very optimistic about Corel and plans to “infuse it with capital” to accelerate growth in two areas:
The first is the expansion of activities for existing business. We have all heard of Corel products such as WordPerfect, Corel Draw, WinZip, PaintShop Pro and finish the way KKR is going.
The second is the purchase and distribution of various startups and large companies, software developers in General, which, apparently, will give Corel a truly rich choice.
Also, KKR is not planning any layoffs. However it is unknown exactly which projects Corel will get a chance for further development, and what will be done.
Besides the fact that KKR already owns acquired at the time FOR third-party developers, including the media player, WinDVD, WinZip archiver, a text editor WordPerfect program for
video editing with Pinnacle Studio, this list will be added at least 15 of Corel products. Perhaps including a Linux distribution – Corel Linux OS.
Note that at the time Corel called himself a competitor of Microsoft in the software wars, citing the example purchased from the Novel WordPerfect in 1996. Then Corel founder Michael Copeland
considered the software package as an integral part of this rivalry, and said that “WordPerfect for Word as Pepsi to Coca-Cola”. In the end, Microsoft was stronger than both and
eventually, she even signed a partnership with Corel which showed that she invests in the company.
Michael Copeland founded Corel in 1985, and since then she repeatedly went to the exchange and left with her. The name of the company is the transcript – “Cowpland Research Laboratory” in
which is a direct reference to his name “Cowpland”. CorelDraw first Corel graphics editor, was released in 1989 and eventually became the flagship product. Copeland left his creation in June 2000
years, after retiring as President, chief Executive officer and Chairman of the Board of Directors of the company. In 2003 Vectore Capital purchased Corel for $53 million and that it gave the nod to
buy KKR.
KKR itself appeared in 1976 and over its 43 years of existence, managed to absorb more than 150 companies, etc. about 345 billion dollars.
Parallels, which Corel bought six months ago, was to help to bring the product of its owner and her business to the image in the current time used by the computer. Its products
help people to run seamlessly on different platforms, enabling users (and IT managers) to implement a unified workflow, regardless of device or operating system.
Parallels provides support for Windows, Mac, iOS, Android, Chromebook, Linux, Raspberry Pi and cloud solutions. It passed into the possession of KKR along with Corel.
Apparently, Parallels has really helped Corel in its strategy, since, despite the fact that the Vector twice, bought it from a private property, the transaction value does not exceed 124 million
dollars. Second purchase and did cost him $30 million
the company
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