Gets new revenue stream via Jasc's Paint Shop line of wares.
Corel announced it has
acquired Jasc Software, the maker
of Paint Shop Pro, Paint Shop Studio and a
variety of other digital photography and image-editing wares.
Under the terms of the agreement, which is expected to close by the end
of the month, Corel will maintain the former Jasc facility in Minneapolis for
the Paint Shop family operations and several members of the Jasc senior
management team will join Corel. Corel CEO Amish Mehta will remain CEO of the
combined operation.
Corel said that under the agreement, it will sell Paint Shop Pro, Paint
Shop Pro Studio and Paint Shop Photo Album as stand-alone products and will continue to
provide worldwide service and support to customers under the Corel brand. In
addition, Corel will support new R&D initiatives for the Paint Shop
family.
The move brings not only an added boost to Corel’s software portfolio,
but it increases the firm’s reach in the photo and image-editing software
marketplace, the company said.
"The acquisition expands our reach in digital imaging software – one of
the key drivers behind our growth strategy," Mehta said. "The Paint Shop family
gives us strong entry level graphics and imaging software products that will
help Corel capture millions of new customers. Over the long term, we will
significantly expand our footprint with consumers who regularly purchase digital
photography software – a fast growing software market segment."
Together, Corel and Jasc's global distribution network includes more than
5,000 value-added resellers and major retailers serving 75 countries around the
globe. The combined firm will serve approximately 60 million customers
worldwide, Corel said.
Graphics Tools 
