Corel was founded byMichael Cowpland in 1985 as a research laboratory. Michael Cowpland was CEO ofMitel. Mitel needed writing and creative design programs to enhance the company product line. Corel products were born. Additional products were added. The company had great success early in thehigh-tech boom of the 1990s and early 2000s with the productCorelDRAW, and became, for a time, the biggest software company in Canada. In 1996, it acquiredNovellWordPerfect and started competing with the thought of being "Pepsi to Microsoft'sCoke"[4] asMicrosoft Word was the top-used word processing software at the time. Corel was in a difficult position as Microsoft pushedpre-loaded copies of its software onto new computers. This mainly consisted ofMicrosoft Works office applications, but a variant called Works Suite also bundled the Microsoft Word software.
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. As part of the deal, Corel acquired a minority interest in Hoffmann + Associates and received royalties.[7]
In August 2000, Cowpland was accused ofinsider trading and left. A new board of directors was then appointed andDerek Burney Jr., announced that the product line would be split into several brands—DeepWhite, ProCreate, and Corel. However, these plans were scrapped, and only the Corel brand remained. Corel acquired the graphics software companyMicrografx in late 2001.[citation needed]
In August 2003, Corel was bought out by theprivate equity firm Vector Capital for $1.05 a share (slightly more than the cash in the company).[8] The company was voluntarilydelisted from theNASDAQ andToronto Stock Exchanges. Some U.S. shareholders alleged the management benefited from the buyout personally while the buyout price was too low. A lawsuit was filed in the U.S. to stop the buyout and was unsuccessful.
In March 2005, Corel announced that theUnited 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 withDell.[9] Corel contended that WordPerfect was the only viable alternative to Microsoft Office, with sales 70 times more thanLotus'SmartSuite. On April 26, 2006, Corel completed its return to the public market with aninitial public offering on NASDAQ,[10] the same day finalizing the acquisition ofWinZip, an archiving software title.
On December 12, 2006, Corel completed its acquisitions ofInterVideo andUlead. The InterVideo acquisition was valued at around $196 million.[11] In May 2008, CEO David Dobson announced that he was leaving the company to take a senior strategy role atPitney Bowes.[12] Dobson was replaced on May 8 by former Symantec executiveKris Hagerman.[13] In November 2009, it was announced that Vector Capital would be purchasing the remaining shares of common stock in Corel Corporation.[14] Upon completion, this made Corel once again privately owned.[15] 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.[16]
In January 2012, Corel acquiredRoxio fromRovi Corporation for an undisclosed amount.[17] Subsequently, on July 2, 2012, Corel announced its acquisition ofPinnacle Systems, a developer of consumer-oriented video editing products (such as thePinnacle Studio series) owned byAvid.[18]
Having suffered layoffs in 2003 and 2008,[19] 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. Restructuring in 2012[20] resulted in more layoffs. In December 2013, the company's restructuring resulted in the layoffs of the Taipei location's engineering and quality assurance team. Corel's Taipei office was the core development centre ofPaintShop Pro andVideoStudio, one of the company's most well-known photo- and video-editing bundles. The 2013 restructuring led to a partial handover of product development to outsourced companies, resulting in more rapid, low-cost development across its product lines. The company continued with layoffs in 2014 and once again at the beginning of 2015 with the change of the company's CEO to Patrick Nichols, previously the head of Corel's WinZip business unit.
In August 2016, Corel announced the acquisition of theMindjetMindManager business from Spigit.[21]
In June 2018, Corel announced the acquisition of Gravit GmbH.[22]
In December 2018, Corel announced the acquisition ofParallels.[23]
On July 3, 2019, Corel was acquired byKKR for a reported $1 billion.[24]
In September 2020, Christa Quarles was named the CEO of the company.[25]
In 2021, Prashant Ketkar was named the Chief Technology and Product Officer of the company.[26]
In September 2022, Corel was rebranded to Alludo (wordplay on the phrase "All You Do").[2][27][28]
Corel Digital Studio – a set of four applications: PaintShop Photo Express (a light version ofPaint Shop Pro), VideoStudio Express (video-editing software), DVD Factory (DVD burning and converting software), WinDVD (DVD player software).
Corel Home Office – an office suite based onAbility Office 5 and also bundling Corel's WinZip software.[30] It is incompatible with Corel's own WordPerfect file formats.[31]
Corel KnockOut – Professional image masking plug-in.
Corel Paint It! Touch – Drawing and painting software created specifically forWindows 8touchscreen PCs.
Corel Painter – a program that emulates natural media – paint, crayons, brushesetc (formerly Fractal Painter).
Corel Photo Album – A sophisticated program for organizing digital photographs, inherited from Jasc Software.
Corel SnapFire – A digital photo management suite, positioned to compete with Google'sPicasa offering, later developed and marketed asCorel MediaOne.[32]
Corel Ventura – Desktop publishing software that had a large and loyal following for itsDOS version when Corel acquired it in the early 1990s. It was briefly revived in 2002.
Corel Linux OS (discontinued) – One of the first GUI-based distributions of Linux incorporating an automatic installation program in 1999.
CorelCAD – 2D and 3D computer-aided drafting software.[33]
Quattro Pro – A spreadsheet program acquired fromBorland and bundled with WordPerfect Office.
VideoStudio – A digital video editing program originally developed byUlead Systems which remains a distribution of Ulead Systems. The software was rebranded Corel VideoStudio since Corel acquired Ulead and it became a working division of Corel.
MotionStudio 3D – A 3D text and animation program originally calledUlead COOL 3D and was developed byUlead Systems. It was rebranded after Corel acquired Ulead.
WinDVD – A video and music player software, acquired in 2006 from Corel's purchase of InterVideo.
WinZip – File archiving and compression software acquired by Corel in 2006.
The annual Corel World Design Contest first ran from 1990 through 1998. The competition intended to recognize and encourage an international community of graphic artists from over 50,000,000 registered Corel users. Two finalists for each of the eight categories were awarded a trip to Ottawa, Canada to participate in the Corel World Design Contest gala and awards ceremony. The finalists from each of the eight categories received an issue of the "Corel Crystal Award". The collection of artworks were later released in a catalogue with bundled CD, under the name of "Corel Artshow". The contest was reinitiated in 2009 on the 20th Anniversary of CorelDRAW's launch and now runs every two years. The 2013 and 2015 contests each had a prize pool with a total value of US$100,000.
298 millionUSD (2016)[1]
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