In December 2013, the company's restructuring resulted in the layoffs of the Taipei locations engineering and quality assurance team. Restructuring in 2012 resulted in more layoffs. Having suffered layoffs in 20, Corel began a near yearly culture of restructuring beginning in 2010, when in the latter part of that year the company's finance department was restructured and moved to their Taipei office, resulting in significant layoffs at its Ottawa HQ. Subsequently, on July 2, 2012, Corel announced its acquisition of Pinnacle Systems, a developer of consumer-oriented video editing products (such as the Pinnacle Studio series) owned by Avid. In January 2012, Corel acquired Roxio from Rovi Corporation for an undisclosed amount. On January 29, 2010, the shareholders of Corel approved its previously announced stock consolidation, completing the transfer to Corel Holdings, L.P., a limited partnership controlled by an affiliate of Vector Capital. Upon completion, this made Corel once again privately owned. In November 2009, it was announced that Vector Capital would be purchasing the remaining shares of common stock in Corel Corporation. Dobson was replaced on May 8 by former Symantec executive Kris Hagerman. In May 2008, CEO David Dobson announced that he was leaving the company to take a senior strategy role at Pitney Bowes. The InterVideo acquisition was valued at around $196 million. On December 12, 2006, Corel completed its acquisitions of InterVideo and Ulead. On April 26, 2006, Corel completed its return to the public market with an initial public offering on NASDAQ, the same day finalizing the acquisition of WinZip, an archiving software title. Corel contended that WordPerfect was the only viable alternative to Microsoft Office, with sales 70 times more than Lotus' SmartSuite. In March 2005, Corel announced that the United States Justice Department purchased 50,000 licenses of WordPerfect (adding to the worldwide user base of 20 million) and that WordPerfect was adding 4 million new users per year thanks to bundling deals with Dell. shareholders alleged the management benefited from the buyout personally while the buyout price was too low. The company was voluntarily delisted from the NASDAQ and Toronto Stock Exchanges. In August 2003, Corel was bought out by the private equity firm Vector Capital for $1.05 a share (slightly more than the cash in the company). Corel acquired the graphics software company Micrografx in late 2001. However, these plans were scrapped, and only the Corel brand remained. A new board of directors was then appointed and Derek Burney Jr., announced that the product line would be split into several brands-DeepWhite, ProCreate, and Corel. In August 2000, Cowpland was accused of insider trading and left. As part of the deal, Corel acquired a minority interest in Hoffmann + Associates and received royalties. In 1997, Corel sold its Corel ChemLab studio and its 'CD Home Collection' consisting of over 60 multimedia titles to Hoffmann + Associates, a Toronto-based company. In 1996, Corel created a full motion video game called Mode. The company held the naming rights to the home arena for the NHL's Ottawa Senators from February 1996 until January 2006 as the 'Corel Centre', a venue currently known as the Canadian Tire Centre. This mainly consisted of Microsoft Works office applications, but a variant called Works Suite also bundled the Microsoft Word software.

Corel was in a difficult position as Microsoft pushed pre-loaded copies of its software onto new computers. In 1996, it acquired Novell WordPerfect and started competing with the thought of being ' Pepsi to Microsoft's Coke' as Microsoft Word was the top-used word processing software at the time. The company had great success early in the high-tech boom of the 1990s and early 2000s with the product CorelDRAW, and became, for a time, the biggest software company in Canada. Mitel needed writing and creative design programs to enhance the company product line. History Corel wordmark used from 2001 to 2022Ĭorel was founded by Michael Cowpland in 1985 as a research laboratory.

Formerly called the Corel Corporation ( / k ə ˈ r ɛ l/ kə- REL from the abbreviation ' Cowpland Research Laboratory'), the company is known for producing software titles such as CorelDRAW, and for acquiring AfterShot Pro, PaintShop Pro, Painter, Video Studio and WordPerfect. d oʊ/ ə- LOO-doh ), is a Canadian software company headquartered in Ottawa, Ontario, specializing in graphics processing. Cascade Parent Limited, doing business as Alludo ( / ə ˈ l uː.

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