Techcrunch found out about selling Parallels
Canadian Corel Corporation has agreed to buy a US-based company with Russian roots Parallels, develop products in the field of virtual machines and remote launch applications. This is a reference to the source according to Techcrunch.
Publications claim that part of Parallels' staff is aware of upcoming transactions, the remainder of this will be announced soon. The number of upcoming transactions is still unknown. It is suspected that after the sale of Parallels will remain in the independent division of Corel.
The press service of Corel and Parallels at the time of publication of this material could not answer Techcrunch's question. The main owner of Parallels Sergey Belousov at the time of publication, CNews did not respond to requests either.
CNews sources in the IT market heard about this agreement. According to him, we are talking about buying not only all of Parallels owned, but about buying one of its member companies. This is also called Parallels and produces virtual machines for the mainstream market and for small and medium businesses. Fixed server product at another parent company – Virtuozzo.
How was Parallels formed?
Parallels was founded in 1994, and was originally called Standard & Western Software (Swsoft). The company was founded by Sergey Belousov and Ilya Zubarev. He is involved in special programming. After some time, the company's headquarters moved to Singapore.
The founder and main owner of Parallels Sergey Belousov
In the first half of the 2000s, Swsoft acquired the Russian company Plesk and Parallels. After that, the joint company was named Parallels, and the main product was the same virtual machine for MacOS. The company's main office was moved to the US.
The company also developed virtual machines for Windows and Linux, products for the remote launch of the Parallels Remote Application Server application, and mobile applications for remote access, Parallels Access.
In its history, Parallels has completed several agreements. Company competitors, Sphere, a manufacturer of German automation solutions for ModernGigabyte hosting and 2X Software remote access application developers, were obtained.
Who owns Parallels
Parallels' main shareholders are Sergey Belousov and Ilya Zubarev. The company has attracted venture capital investment several times. In 2005, Insight Venture Partners, Bessemer Venture Partners, and Intel Capital fund acquired shares in the company for $ 12.5 million. In 2009, Almaz Capital Partners bought a 5% stake worth $ 11 million.
In 2013, Cisco acquired about 1% of Parallels. A year later, Ingram Micro acquired a minority stake in the company. In 2015, the company invested funds from Endeavor Vision, KG Investments, Maxifield Capital and Sanavo Capital Partners.
At the same time, in 2015, Parallels sold one of its shareholders, referred to by Ingram Micro, a division of Odin, which automates the delivery of cloud services. At the same time, before the agreement, Odin was allocated to Plesk (web hosting management solution) and Virtuozzo (container virtualization technology). Together with Parallels, they entered a holding of the same name.
What company bought Corel
Corel is a Canadian company founded in 1985. The company's main product is the Corel Draw graphic editor. This company has a rich history of buying third-party software developers. For example, in the 1990s, the company obtained rights to the WordPerfect word processor, Paradox database, and WordPerfect table editor. On the basis of this product, the Office WordPerfect Office package appears.
In addition, Corel acquired a company that developed the Ulead VideoStudio video editor and Pinnacle Studio, WinDVD video player, WinZIP archiver, Paint Shop Pro graphic editor, etc.
Recently, the acquisition of Corel is Mindjet MindManager, developer of visualization software and developer of the Gravit graphic editor of the same name. Since 2003, Corel has been owned by Vector Capital.