Parallels acquired by veteran creative software company Corel, plans ‘significant invesment’ into the virtualization software

Popular virtualization software company Parallels has been acquired by Corel. The creative software veteran who has produced Corel Draw, WordPerfect, and Painter Pro says it will put “significant investment” into the Parallels software going forward.

Corel made the Parallels acquisition announcement in a press release today:

Corel Corporation today announced that it has acquired the Parallels business, a global leader in cross-platform solutions best known for its #1-selling software for running Windows on Mac. Corel now offers the complete Parallels product line, including Parallels Desktop for Mac, Parallels Toolbox for Windows and Mac, Parallels Access, Parallels Mac Management for Microsoft SCCM, and Parallels Remote Application Server (RAS) as part of its industry-leading software portfolio. Financial details were not disclosed.

Corel’s CEO, Patrick Nichols, said he sees the two companies’ software as “highly complementary.”

“We’re excited to welcome our new Parallels employees to Corel’s global organization. From our highly complementary product portfolios to our shared business models and strategies, Corel and Parallels are a great fit. Thanks to the combined power of our technologies and teams, we see tremendous opportunities to drive continued growth and success for our businesses and, most importantly, our customers,” said Patrick Nichols, CEO of Corel.

As for the future, Corel plans to put a lot of resources behind Parallels and grow its entire portfolio of software for all operating systems.

Corel plans significant investment into the Parallels business and sees exceptional opportunities for growth by leveraging the strengths of both companies’ extensive customer bases, robust partner networks, and globally known brands. Together, Corel® and Parallels® deliver applications and services that empower users across their favorite platforms, including Windows, macOS, iOS, Android, Chromebooks, Linux, Raspberry Pi, and the cloud.

As of yet, details on the purchase price haven’t been shared. Parallels is one of the most popular ways to run Windows on a Mac without having to reboot your machine to switch between macOS and Microsoft’s OS.

We reviewed Parallels 14 earlier this year, and have previously covered how to use Windows with Parallels on Mac with ease.

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Avatar for Michael Potuck Michael Potuck

Michael is an editor for 9to5Mac. Since joining in 2016 he has written more than 3,000 articles including breaking news, reviews, and detailed comparisons and tutorials.