Corel, recent buyer of virtualization software firm Parallels, acquired by private equity firm KKR | AppleInsider

I'm guessing the Parallels price is going up sometime soon...

"According to the memo, KKR is "very optimistic" about Corel and will grant the company an "infusion of capital" to expand its current business, the TechCrunch report said. The investment will also go toward new acquisitions like the Parallels buy accomplished in December.

Corel is a storied Canadian software company with a number of well established titles under its belt including CorelDRAW, WordPerfect and WinZip. While its flagship products have largely been usurped by offerings from competitors Microsoft and Adobe, the company continues to market its core line as it branches out with more modern solutions like CorelCAD.

As for Parallels, the acquisition last year was the latest in a long line of industry moves to build out Corel's stable of subsidiaries. The Canadian company has collected a number of notable software standouts since its founding in 1985, from developers like Bibble and JASC Software to products like WordPerfect."

Corel, recent buyer of virtualization software firm Parallels, acquired by private equity firm KKR | AppleInsider