Misplaced Pages

#179820

23-398: Corel was founded by Michael Cowpland in 1985 as a research laboratory. Michael Cowpland was CEO of Mitel . Mitel needed writing and creative design programs to enhance the company product line. Corel products were born. Additional products were added. The company had great success early in the high-tech boom of the 1990s and early 2000s with the product CorelDRAW , and became, for a time,

46-510: A $ 14-million 1,800-square-metre mansion in Rockcliffe Park, Ontario . Pinnacle Systems Pinnacle Studio is a video editing program originally developed by Pinnacle Systems as consumer-level software. Upon Pinnacle System's acquisition of Munich-based FAST Multimedia, Pinnacle integrated the professional code base of FAST's editing software, (since re-branded as Pinnacle Liquid) beginning with Pinnacle Studio version 10. It

69-468: A Toronto-based company. As part of the deal, Corel acquired a minority interest in Hoffmann + Associates and received royalties. In August 2000, Cowpland was accused of insider trading and left. A new board of directors was then appointed and Derek Burney Jr. , announced that the product line would be split into several brands—DeepWhite, ProCreate, and Corel. However, these plans were scrapped, and only

92-522: A company that developed and sold electronic PBX systems. Initial success made both founders millionaires. Sales peaked at $ 250 million, but over-expansion and development problems saw the company bought by British Telecom . Both Cowpland and Matthews left the company in 1984 amid disagreements with the owners. Matthews went on to found Newbridge Networks , while Cowpland launched Co wpland Re search L aboratory (soon Corel ) in Ottawa in 1985. At first,

115-526: A prize pool with a total value of US$ 100,000. Michael Cowpland Michael Cowpland (born April 23, 1943 in Bexhill-on-Sea ) is a British-born Canadian businessman. He is the founder and one-time president, chairman and CEO of Corel , a Canadian software company. Cowpland worked for Bell Northern Research (later part of Nortel Networks ), then MicroSystems International . In 1973, Cowpland and Terry Matthews founded Mitel Corporation ,

138-787: A reported $ 1 billion. In September 2020, Christa Quarles was named the CEO of the company. In 2021, Prashant Ketkar was named the Chief Technology and Product Officer of the company. In September 2022, Corel was rebranded to Alludo (wordplay on the phrase "All You Do"). Reviversoft, an American computer optimizer software company acquired by Corel in 2014. Simplestar, an American computer optimizer software company. The annual Corel World Design Contest first ran from 1990 through 1998. The competition intended to recognize and encourage an international community of graphic artists from over 50,000,000 registered Corel users. Two finalists for each of

161-669: A variant called Works Suite also bundled the Microsoft Word software. The company held the naming rights to the home arena for the NHL 's Ottawa Senators from February 1996 until January 2006 as the "Corel Centre", a venue currently known as the Canadian Tire Centre . In 1996, Corel created a full motion video game called Mode . In 1997, Corel sold its Corel ChemLab studio and its "CD Home Collection" consisting of over 60 multimedia titles to Hoffmann + Associates,

184-509: Is some additional functionality in the Plus and Ultimate editions, notably a second video track. This allowed Overlay, A-B Edits, Chroma Key, and Picture-in-Picture. Pinnacle Studio 24 was released on August 11, 2020. This version included Unlimited tracks plus 4K video support, Multi-camera Editing, Enhanced Motion Tracking, Enhanced Video masking, and many advanced technical features. No support for HEVC (H.265) on AMD hardware. In addition to

207-463: The Pinnacle Studio series) owned by Avid . Having suffered layoffs in 2003 and 2008, Corel began a near yearly culture of restructuring beginning in 2010, when in the latter part of that year the company's finance department was restructured and moved to their Taipei office, resulting in significant layoffs at its Ottawa HQ. Restructuring in 2012 resulted in more layoffs. In December 2013,

230-525: The Corel brand remained. Corel acquired the graphics software company Micrografx in late 2001. In August 2003, Corel was bought out by the private equity firm Vector Capital for $ 1.05 a share (slightly more than the cash in the company). The company was voluntarily delisted from the NASDAQ and Toronto Stock Exchanges . Some U.S. shareholders alleged the management benefited from the buyout personally while

253-487: The beginning of 2015 with the change of the company's CEO to Patrick Nichols, previously the head of Corel's WinZip business unit. In August 2016, Corel announced the acquisition of the Mindjet MindManager business from Spigit. In June 2018, Corel announced the acquisition of Gravit GmbH. In December 2018, Corel announced the acquisition of Parallels . On July 3, 2019, Corel was acquired by KKR for

SECTION 10

#1732779502180

276-469: The biggest software company in Canada. In 1996, it acquired Novell WordPerfect and started competing with the thought of being " Pepsi to Microsoft's Coke " as Microsoft Word was the top-used word processing software at the time. Corel was in a difficult position as Microsoft pushed pre-loaded copies of its software onto new computers. This mainly consisted of Microsoft Works office applications, but

299-489: The buyout price was too low. A lawsuit was filed in the U.S. to stop the buyout and was unsuccessful. In March 2005, Corel announced that the United States Justice Department purchased 50,000 licenses of WordPerfect (adding to the worldwide user base of 20 million) and that WordPerfect was adding 4 million new users per year thanks to bundling deals with Dell . Corel contended that WordPerfect

322-522: The company sold DTP workstations, but success did not arrive until the launch of the graphics software CorelDRAW in 1989. In 1996, he offered a challenge to Microsoft with a move into productivity software , acquiring WordPerfect from Novell for $ 158 million. However this was unsuccessful as Microsoft managed to get many new computers loaded with Microsoft Word along with Windows . The company also made unsuccessful forays into CAD , videoconferencing , Java , Linux and other developments. He

345-562: The company's restructuring resulted in the layoffs of the Taipei location's engineering and quality assurance team. Corel's Taipei office was the core development centre of PaintShop Pro and VideoStudio , one of the company's most well-known photo- and video-editing bundles. The 2013 restructuring led to a partial handover of product development to outsourced companies, resulting in more rapid, low-cost development across its product lines. The company continued with layoffs in 2014 and once again at

368-756: The desktop versions of Pinnacle Studio,two versions of Pinnacle Studio also exists for iPad and iPhone - Pinnacle Studio for iOS and Pinnacle Studio Pro for iOS. Last one has additional features, for example, trim frame by frame using the Dual Viewer Precision Trimmer, export to cloud services (such as Dropbox , Google Drive and OneDrive ). Last version of Pinnacle Studio for iOS (5.6.1) requires iOS 9.3 or later, iPad 2 or higher, iPhone 4s or higher, iPod Touch Series 5 or higher. MacUser rated version Pinnacle Studio 4 for iOS as 4 out of 5, saying that it provides "a more fully featured movie editor than iMovie for iPad", but complained that

391-571: The eight categories were awarded a trip to Ottawa, Canada to participate in the Corel World Design Contest gala and awards ceremony. The finalists from each of the eight categories received an issue of the "Corel Crystal Award". The collection of artworks were later released in a catalogue with bundled CD, under the name of "Corel Artshow". The contest was reinitiated in 2009 on the 20th Anniversary of CorelDRAW's launch and now runs every two years. The 2013 and 2015 contests each had

414-740: The height of the Linux boom when Corel's Desktop Linux was seen to be a potential rival to Microsoft Windows. After an unsuccessful attempt to buy Borland with a view to creating a critical mass for Linux, Cowpland left Corel in August 2000, and moved on to buy control of ZIM corporation, a database and mobile content company which is listed on the NASDAQ bulletin board (ZIMCF). He was married to his first wife Darlene until 1991 when they divorced. They have two daughters, Paula and Christine. In 1992, he married his second wife, Marlen Cowpland. The couple live in

437-441: The shareholders of Corel approved its previously announced stock consolidation, completing the transfer to Corel Holdings, L.P., a limited partnership controlled by an affiliate of Vector Capital. In January 2012, Corel acquired Roxio from Rovi Corporation for an undisclosed amount. Subsequently, on July 2, 2012, Corel announced its acquisition of Pinnacle Systems , a developer of consumer-oriented video editing products (such as

460-708: Was acquired by Avid and later by Corel in July 2012. Pinnacle Studio allows users to author video content in Video CD , DVD-Video , AVCHD or Blu-ray format , add complementary menus and burn them to disc . In the second half of 2007, Pinnacle introduced VideoSpin, a shareware version of Studio with fewer features; it was discontinued in March 2009. Since version 9, Studio has been sold in several editions: Studio, Studio Plus and Studio Ultimate (starting in version 11), all of which are commercial software . There

483-521: Was investigated by the Ontario Securities Commission (OSC) in 1999–2000 regarding allegations that he had used insider information to sell $ 20 million in Corel shares at $ 8/share shortly before the company posted disappointing results. The two sides settled the case in 2003, with Cowpland agreeing to pay $ 575,000. Subsequent to Cowpland's alleged insider sale at $ 8, Corel shares hit a peak of $ 60/share around November 1999, during

SECTION 20

#1732779502180

506-412: Was the only viable alternative to Microsoft Office, with sales 70 times more than Lotus' SmartSuite . On April 26, 2006, Corel completed its return to the public market with an initial public offering on NASDAQ, the same day finalizing the acquisition of WinZip , an archiving software title. On December 12, 2006, Corel completed its acquisitions of InterVideo and Ulead . The InterVideo acquisition

529-515: Was valued at around $ 196 million. In May 2008, CEO David Dobson announced that he was leaving the company to take a senior strategy role at Pitney Bowes . Dobson was replaced on May 8 by former Symantec executive Kris Hagerman . In November 2009, it was announced that Vector Capital would be purchasing the remaining shares of common stock in Corel Corporation. Upon completion, this made Corel once again privately owned. On January 29, 2010,

#179820