Corel buys Parallels for Windows on Mac playThe deal combines a bevy of software assets that Corel plans to use to expand its crossplatform footprint. Corel said it will acquire Parallels in a move that gives it more software heft and tools to run Windows on Apple's Mac platform.Corel said it will invest in Parallels product portfolio, which includes Parallels Desktop for Mac, Parallels Toolbox for Windows and Mac, Parallels Access, Parallels Mac Management for Microsoft SCCM, and Parallels Remote Application Server (RAS).Parallels faces stiff competition from VMware Fusion platform. Corel's brand is a blast from the past, but has a suite of products that are designed to compete with Adobe's Creative Cloud.The plan for Corel is to combine its cross-platform software with Parallels applications and services to cover multiple platforms ranging from Windows to Mac to cloud to Raspberry Pi.meer ...
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KKR has acquired Corel (including its recent acquisition Parallels), reportedly for $1B+Only six months after snapping up virtualization specialist Parallels, Canadian software company Corel is itself getting acquired. TechCrunch has learned and confirmed with multiple sources that private equity giant KKR has closed a deal to buy the company from Vector Capital, which has owned some or all of Corel since 2003.KKR’s interest in Corel was first rumored in May, when PE Hub reported the two were in talks for a sale valued at over $1 billion. At the time, representatives of Corel declined to comment, although our sources inside the company indicated that the reports were not inaccurate.Fast-forward to today, and both KKR and and a spokesperson for Parallels/Corel declined to comment. But, we now have a copy of the memo provided by an internal source that has been sent out to staff announcing that the deal has indeed closed, and that Corel is now officially part of the KKR family of companies.meer ...
KKR has closed a deal to buy the company from Vector Capital, which has owned some or all of Corel since 2003.