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  • Date of publication: 31 August 2020
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  • businessbuysale.com
  • CorelDraw developer can buy an IT company with Russian roots Parallels

    Synopsis

    Canadian company Corel buys a developer of virtualization software with Russian roots Parallels, writes with reference to its own sources TechCrunch. According to the publication, some employees have already announced a deal.

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Canadian company Corel buys a developer of virtualization software with Russian roots Parallels, writes with reference to its own sources TechCrunch. According to the publication, some employees have already announced a deal.

 

Officially, the takeover is scheduled to be announced to the entire company on Tuesday, November 27, and the deal will be closed next year, TechCrunch reports. The amount of the transaction is not called. The publication suggests that Parallels will become an independent division in Corel.

In 2001, Parallels was founded by graduates of the Moscow Institute of Physics and Technology Sergei Belousov and Ilya Zubarev. At first the company was called SWsoft. The company is headquartered in Seattle, USA.

Parallels now has several business lines. The main thing is Parallels Desktop products that allow you to run Windows products on Apple devices. She develops cloud-based software for hosting providers and telecom operators: managing cloud services, managing web servers for hosting, server virtualization. The company named these three products as Odin Service Automation, Plesk and Virtuozzo, respectively. And while a few years selling their assets. Odin in December 2015 bought the then American IT distributor Ingram Micro (the Chinese HNA Group will buy it later). And in May 2017, Parallels sold 51% of the Plesk developer (hosting web server management software) to Oakley Сapital direct investment fund for $ 27.4 million. Funds previously invested in the company sold their shares.

TechCrunch does not name the reason for the sale, but indicates that Corel is gradually consolidating various software businesses, including the recent purchase of the German company Gravit Designer, which is developing a web application for graphic design. Other Canadian company's assets include the CorelDraw graphic editor, WordPerfect text editor, and more.

Parallels doesn't have any news for the announcement, Vice-President for Communications John Upendal told Vedomosti. The company does not comment on rumors or speculations, he added. Vedomosti sent a request to Corel.

 

Source: vedomosti.ru