Corel completes IPO, acquires WinZip

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Canadian software maker, Corel went public this week raising $69 million, with stock currently being priced in the $16 range. This is the second time the developer of the venerable CorelDraw suite goes public, after it was taken off the market in late 2003 when it was acquired by Vector Capital Corp.

Corel has further expanded its product offerings in recent years with WordPerfect Office, and Paint Shop Pro which they acquired from Jasc Software in 2004.

Along with their IPO, Corel also announced they have bought WinZip Computing, developers of the popular WinZip compression utility. Although WinZip is arguably not as popular as it used to be in the late 90s, it remains to be one of the most frequently downloaded software products available with over 150 million downloads to date and an average of over 600,000 downloads per week in 2005.

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