Why KKR Acquired Ottawa-Based Corel
Summary
“Corel has differentiated itself by offering an impressive portfolio of essential tools and services for connected knowledge workers – across devices, operating systems, and a range of fast-growing industries,” said KKR member John Park. “KKR recognizes the value of our people and their impressive achievements, especially in terms of our commitment to customers, technology innovation, and our highly successful acquisition strategy,” added Corel CEO Patrick Nichols. “With KKR’s support and shared vision, our management team is excited by the opportunities ahead for our company, products, and users.” Some of Corel’s other primary application offerings include CorelDRAW and WinZip. “Under Vector’s ownership, Corel completed multiple transformative acquisitions, grew revenue and meaningfully improved profitability, highlighting Vector’s proven strategy of partnering with management teams to position companies for long-term success. We are confident the company has found a great partner with KKR and wish them continued success together.” Corel and Vector Capital were represented by Sidley Austin LLP for this transaction.