Corel was invented by Michael Cowpland in 1985, as a research laboratory. The company had great success early in the high-tech boom of the 1990s with the product Corel DRAW, and became, for a time the biggest and the best software company in Canada. In 1996, it earned Novell Word perfect & started competing with the thought of being Pepsi to Microsoft’s Coke as Microsoft works were the top used word processing software at that time.
Corel’s job was in a very crucial position as Microsoft pushed pre-loaded copies of its software onto new computers. This central dwell of Microsoft Works office applications, but a variant known Works Suite also bundled the Microsoft Word software.
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In 1997 Corel sold out it is Corel ChemLab studio and its CD Home Collection having not only over 60 multimedia titles but also the Corel ChemLab studio to Hoffmann plus Associates, a Toronto oriented company. As part of the deal, Corel earns a minority interest in Hoffmann plus Associates and received royalties.
In July 2000, Cowpland was accused of insider trading and left. A new board of directors then selected and Derek Burney Jr., declared that the product line would be separate into several brands—Deep White, ProCreate, and Corel. However, these plans would be discarded, and only the Corel brand would be there. Corel earns the graphics software company Micrographics in late 2001.
In July 2003, Corel was bought up out by the private equity firm Vector Capital for $1.05 a share (slightly more than the money in the company). The company voluntarily delisted from the NASDAQ and TORONTO STOCK EXCHANGE. Some UNITED STATE shareholders alleged the management benefited from the buyout personally while the buyout price was very low. A lawsuit was filed in the United States to stop the buyout and was not successful.
In March 2005, Corel announced that the United States Justice Department pick up 50,000 licenses of Word Perfect (adding to the worldwide user base of twenty million) and that Word Perfect was adding four million new consumers per year thanks to bundling deals with Dell. Corel contended that Word Perfect was the only viable alternative to Microsoft Office with sales 70 times more than Lotus elegant suite.
On April 26, 2006, Corel had done it returned to the public market with an initial public offering on NASDAQ, the same day finalizing the acquisition of Win Zip, a well-known archiving software title or name.
Corel World Design Competition
The yearly Corel World Design competition first ran from 1990 through 1998. The game intended to realize and encourage an international community of graphic artists from over 50,000,000 registered Corel consumers. Two finalists for each of the eight categories awarded a trip to Ottawa, Canada to take part in the Corel World Design Contest or Competition gala and awards function.
The finalists from each of the eight categories received an issue of the Corel Crystal Award. The collection of artworks later launched in a catalog with bundled CD, under the name of Corel Art show. The competition reorganized in 2009 on the 20th Anniversary of Core DRAW’s launch and now runs every two years. The 2013 and 2015 competitions each had a prize pool with a total value of United State Dollars 100,000.
Today, the Company leads the market with their award-winning graphics and productivity software. Corel is also at the cutting edge of the digital media revolution, delivering the industry’s broadest and most innovative portfolio of video and DVD software.
Corel Community
Corel has a community of more than 100 million active consumers in over seventy five countries, and a well established network of international resellers, retailers, original equipment manufacturers and online providers, in addition to their global websites.
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The Company’s headquarters are placed in Ottawa, Canada, with plenty of offices in the U. S., U. K., Germany, Taiwan, China and Japan.
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