Rumors: Corel buys Parallels, the deal will be closed in December, employees were informed yesterday

A source told TechCrunch a serious deal that is happening at the moment. Canadian company Corel buys a well-known company with Russian roots Parallels , which develops tools for virtualization.

According to the source, Parallels employees were informed about the deal yesterday (please confirm or deny the information in the comments) .

Corel was founded in the 1980s in Ottawa, Canada. Known for developing mass-market applications such as CorelDraw, a vector graphics editor, and WordPerfect text editor. She released shares for free circulation several times and removed them from there. At the moment, it is not a public company, but is owned by Vector Capital , which, in essence, buys Parallels.

Parallels was founded in 1999 and is headquartered in Bellevue, Washington. This firm has never publicly disclosed information about its capitalization, that is, the assessment of investors. According to PitchBook, the last round of financing took place in 2015, where Parallels received an unknown amount from Endeavor Vision, KG Investments, Maxfield Capital, Savano Capital Partners and others. The year before, the company raised $ 300 million from Ingram Micro.

It can be assumed that the amount of the transaction exceeds $ 1 billion.

Although the company Corel no longer competes with Microsoft, as before, but now feels quite confident financially. It earns on programs like CorelDraw, WordPerfect, WinZip PaintShop Pro and WinDVD. Perhaps Parallels will provide virtualization features for other Corel programs, or just become another profitable asset of Vector Capital.