Someone bought Corel for a billion dollars

You remember Corel, whose famous CorelDraw was a standby in the 90s for people who couldn’t afford a legit copy of Photoshop. Apparently they’re still around and a company called KKR bought them for $1B.

“Vector and Corel itself have never publicly disclosed much on user numbers or financials, but Vector has described the company as “highly profitable,” with dividends of more than $300 million to date. The memo we’ve seen notes that Corel (including Parallels) has millions of customers across its various software platforms and apps.”

Fun Fact: I used WordPerfect (the “Is Pepsi ok?” to early versions of Microsoft Word) to write a substantial portion of my master’s thesis.

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