The acquisition would drive continued growth and success for both the business entities and their customers.
Corel Corporation a software company specializing in graphics processing has announced that it has acquired the Parallels business, a global leader in cross-platform solutions best known for its #1-selling software for running Windows on Mac. Now Corel’s offers the complete Parallels product line, including Parallels Desktop for Mac, Parallels Toolbox for Windows and Mac, Parallels Access, Parallels Mac Management for Microsoft SCCM, and Parallels Remote Application Server (RAS) as part of its industry-leading software portfolio.
Together the companies would deliver their services over multiple platforms
Reportedly, Corel plans significant investment into the Parallels business and looks ahead for exceptional growth opportunities by leveraging the strengths of both companies’ extensive customer bases, robust partner networks, and globally known brands.
Combined, Corel and Parallels deliver applications and services that empower users across their favorite platforms, including Windows, macOS, iOS, Android, Chromebooks, Linux, Raspberry Pi, and the cloud.
Patrick Nichols, CEO, Corel, stated, “We’re excited to welcome our new Parallels employees to Corel’s global organization. From our highly complementary product portfolios to our shared business models and strategies, Corel and Parallels are a great fit. Thanks to the combined power of our technologies and teams, we see tremendous opportunities to drive continued growth and success for our businesses and, most importantly, our customers.”
The deal looks ahead to serve the best in class offerings
Jack Zubarev, CEO, Parallels, said, “Parallels and Corel share a common vision, market leadership, and passion for innovation. We look forward to continuing to serve our customers and partners with best-in-class software as part of Corel,”
Rob Amen, Managing Director, Vector Capital, a private equity firm, said, “As part of Corel, Parallels is joining an impressive collection of industry leading brands, including CorelDRAW, WinZip, ClearSlide, and MindManager. One of Vector’s most successful investments, Corel has delivered an exceptional platform for acquisitions. We congratulate the Corel management team and look forward to working with them to achieve the company’s next phase of growth.”
