Global investment firm KKR has completed its acquisition of Corel from Vector Capital, a technology-focused private equity firm.
Financial details of the transaction were not disclosed.
Positioned at the intersection of several large and growing end-markets totaling almost $25 billion across its key verticals, Corel offers a wide portfolio of software solutions that deliver capabilities to over 90 million workers worldwide. Comprised of well-known brands Corel’s products empower professionals across industries in three main verticals: Creativity, Productivity, and Desktop-as-a-Service.
Corel has a consistent track record of acquisitions, the most recent of which include the products Parallels, ClearSlide, and MindManager.
“Corel has differentiated itself by offering an impressive portfolio of essential tools and services for connected knowledge workers – across devices, operating systems, and a range of fast-growing industries. KKR looks forward to working together with management to drive continued growth across its existing platforms while leveraging the team’s extensive experience in M&A to deliver a new chapter of innovation and growth on a global scale,” said John Park, Member at KKR.
For KKR, the investment in Corel is primarily being made from KKR’s Americas XII Fund.