A report in TechCrunch states that Corel will announce plans to acquire Parallels as soon as today. Parallels, which makes popular virtualization software, will remain independent from Corel.
“Some employees at Parallels have already been briefed on the acquisition, which is expected to be announced to the whole company today,” the report notes. “Terms have not been disclosed but we understand it is an all-cash deal.”
Corel, as you may know, makes software products such as CorelDraw and WordPerfect and is, in the words of parent firm Vector, “highly profitable.”
Parallels, meanwhile, is most famous for Parallels Desktop, the Mac-based virtualization software that I happen to use and recommend.
What’s unclear, of course, is the synergy that may exist between these two companies. TechCrunch speculates that Corel could perhaps use Parallels’ technologies to bring its Windows-based application family to the Mac.
Thanks to Mary Jo Foley for tipping me off to this.