KKR, a leading global investment firm, and Corel Corporation (“Corel”), one of the world's top software platforms, announced today that KKR has completed its acquisition of Corel from Vector Capital, a leading technology-focused private equity firm. Financial details of the transaction were not disclosed.

Uniquely positioned at the intersection of several large and growing end-markets totaling almost $25 billion across its key verticals, Corel offers a wide portfolio of software solutions that deliver best-in-class capabilities to over 90 million knowledge workers worldwide. Comprised of some of the industry’s best-known brands Corel’s products empower professionals across industries in three main verticals: Creativity, Productivity, and Desktop-as-a-Service.

Corel has a consistent track record of organic growth and product innovation, as well as a proven history of accretive acquisitions, the most recent of which include the products Parallels®, ClearSlide®, and MindManager®. Combining top-rated operational capabilities with a focused product portfolio addressing attractive niche industries, Corel has accelerated its growth profile in recent years. KKR is committed to furthering that growth trajectory by enhancing internal capabilities and building on the company’s established track record of successful acquisitions.

“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. KKR looks forward to working together with management to drive continued growth across its existing platforms while leveraging the team’s extensive experience in M&A to deliver a new chapter of innovation and growth on a global scale,” said John Park, Member at KKR.

“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. With KKR’s support and shared vision, our management team is excited by the opportunities ahead for our company, products, and users,” said Patrick Nichols, CEO of Corel.

“Corel has been an important part of the Vector Capital family for many years and we are pleased to have achieved a fantastic outcome for our investors with the sale to KKR,” said Alex Slusky, Vector Capital’s Founder and Chief Investment Officer. “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.”

For KKR, the investment in Corel is primarily being made from KKR’s Americas XII Fund.

Corel and Vector Capital were represented by Sidley Austin LLP during this transaction, with Kirkland & Ellis LLP and Deloitte representing KKR.

Corel lately is loosing customers at staggering speeds.