Parallels, the virtualization technology company behind Parallels Desktop for Mac is being acquired by Canadian software company Corel. For those unfamiliar, Corel has created several productivity apps over the years such as CorelDRAW (a vector graphics editor), but the company also acquired some popular Windows apps like WinZip and MindManager.
We’re big fans of Parallels Desktop for Mac and Parallels Toolbox for Windows for Mac here at OnMSFT, and the good news it that Parallels will now have more resources to develop its various products. “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,” the press release reads.
Financial details about the acquisition were not disclosed today, but TechCrunch previously reported in November that it could be an all-cash deal. “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,” said Jack Zubarev, CEO of Parallels.