Corel acquires Mac virtualization software Parallels

BRIAN JACKSON | December 20, 2018

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Ottawa-based Corel Corp. announced on Thursday that it has acquired Parallels, a software vendor best-known for the desktop virtualization software that allows Windows to run on Mac OS computers.Financial details of the deal were not disclosed in a press release. Corel says that it plans “significant investment into the Parallels business” and sees a chance to grow the combined business through the two firms’ customer bases and partner networks.It’s the third acquisition that Corel CEO Patrick Nichols has made this year and he says more are on the way. He says Corel, a private company, has been profitable over the years. We take some of that profit and we use it to acquire new businesses or we invest it in the products we have,” he said in an interview with IT World Canada. “We’ll continue to be on the hunt for new opportunities.

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