Corel Corporation announced that it has acquired the Parallels business, the company best known for its software for running Windows on Mac.
Corel now 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. Financial details were not disclosed.
Corel plans significant investment into the Parallels business and sees exceptional opportunities for growth by leveraging the strengths of both companies’ extensive customer bases, robust partner networks, and globally known brands. Together, 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.
“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,” said Patrick Nichols, CEO of Corel.
“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,” added Jack Zubarev, CEO of Parallels.
“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,” said Rob Amen, managing director, Vector Capital.
