Corel snaps up virtualization software maker Parallels

Corel, Canada’s longstanding maker of software titles for creative pros, announced Thursday that it’s acquiring virtualization software developer Parallels.

Financial details were not disclosed.

Corel now offers the complete Parallels product line, including Parallels Desktop for Mac, Parallels Toolbox for Windows and Mac, Parallels Access, Parallels Mac Management for Microsoft SCCM, and Parallels Remote Application Server.

Corel said it planned “significant investment” into the Parallels business.

Parallels makes virtualization apps that let you run emulations of other computer system, called virtual machines, alongside your main operating systems. Available for multiple platforms, including macOS, the recently-released Parallels Desktop 14 makes it easy to run Windows 10 alongside macOS and Windows applications, without slowing down your Mac.

Corel (from the abbreviation “Cowpland Research Laboratory”) was founded 33 years ago as a developer of specialized software for graphics processing.

The company is known for producing software titles such as CorelDRAW and WinZip. It previously acquired PaintShop Pro, Video Studio and WordPerfect.

Corel has never been a household name in mobile though it in April 2014 did release a powerful video editing app for iPhone with advanced special effects, called Pinnacle Studio.

I definitely did not see this acquisition coming.

How about you?