Corel Corporation Acquires WinZip Computing

squall_leonhart · May 8th, 2006, 04:14 PM

Corel Corporation (NASDAQ: CREL; TSX: CRE) today announced that it has completed the acquisition of WinZip Computing, makers of the world's leading aftermarket compression utility. As one of the most frequently downloaded software products available on the Internet with over 150 million downloads to date and an average of over 600,000 downloads per week in 2005, WinZip has developed a strong and highly recognizable global brand and a broad user base that includes consumers, small to medium-sized businesses, and large corporations. Allowing users to temporarily reduce the size of their computer files for more effective transmission and storage, WinZip® also includes encryption functionality to provide additional security in protecting sensitive information.

"Corel is very pleased to welcome WinZip as the newest member of our award-winning software portfolio," said David Dobson, CEO of Corel Corporation. "With a large, loyal user base and a globally established brand, WinZip is an ideal complement to Corel's Productivity and Graphics and Digital Imaging product lines. I look forward to joining our teams and our brands as we build a strong future together."

Source: Corel

jbruneau · May 8th, 2006, 06:13 PM

Wholy crap!

I never would have seen that coming, nor expected it! I haven't heard alot coming from Corel lately, they've been pretty quiet. I had thought that they might even be going under or something. Now that Microsoft is pretty much controlling the Word Processing Department and Adobe is controlling the Visual Processing Department.

Good for Corel

!