Editing Alludo (section)

== History ==
[[File:Corel logo.svg|thumb|Corel wordmark used from 2001 to 2022]]
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 [[Dot-com bubble|high-tech boom of the 1990s and early 2000s]] with the product [[CorelDRAW]], and became, for a time, the biggest software company in Canada. In 1996, it acquired [[Novell]] [[WordPerfect]] and started competing with the thought of being "[[Pepsi]] to Microsoft's [[Coca-Cola|Coke]]"<ref>{{cite web|url=http://dayintechhistory.com/dith/january-31-1996-corel-acquired-wordperfect/|title=January 31, 1996: Corel Acquired WordPerfect|first=Jeffrey|last=Powers|date=31 January 2014 |publisher=Day In Tech History}}</ref> as [[Microsoft Word]] was the top-used word processing software at the time. Corel was in a difficult position as Microsoft pushed [[Pre-installed software|pre-loaded]] copies of its software onto new computers. This mainly consisted of [[Microsoft Works]] office applications, but a variant called Works Suite also bundled the Microsoft Word software.

The company held the [[naming rights]] to the home arena for the [[National Hockey League|NHL]]'s [[Ottawa Senators]] from February 1996 until January 2006 as the "Corel Centre", a venue currently known as the [[Canadian Tire Centre]].<ref>{{Cite news|url=http://www.metronews.ca/views/ottawa/collins-ottawa/2014/12/21/the-canadian-tire-centre-not-20-years-old-and-already-over-the-hill.html|title=The Canadian Tire Centre: Not 20 years old and already over the hill? {{!}} Metro Ottawa|work=metronews.ca|access-date=2017-10-06|language=en|archive-url=https://web.archive.org/web/20171006211624/http://www.metronews.ca/views/ottawa/collins-ottawa/2014/12/21/the-canadian-tire-centre-not-20-years-old-and-already-over-the-hill.html|archive-date=2017-10-06|url-status=dead}}</ref>

In 1996, Corel created a [[full motion video]] game called [[Mode (video game)|Mode]].<ref>{{cite web|title=Archive.Org link to Mode website|url=http://www.clubmode.com/|url-status=dead|archive-url=https://web.archive.org/web/19961031232510/http://www.clubmode.com/|archive-date=October 31, 1996}}</ref>

In 1997, Corel sold its Corel ChemLab studio and its "CD Home Collection" consisting of over 60 multimedia titles to Hoffmann + Associates, a Toronto-based company. As part of the deal, Corel acquired a minority interest in Hoffmann + Associates and received royalties.<ref>{{Cite web|url = http://www.mobygames.com/company/hoffmann-associates-inc|title = Moby Games summary of Hoffmann + Associates Inc|access-date = 19 December 2015}}</ref>

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 the Corel brand remained. Corel acquired the graphics software company [[Micrografx]] in late 2001.{{Citation needed|date=April 2020}}

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).<ref>{{cite news | url=https://www.theglobeandmail.com/report-on-business/corel-agrees-to-takeover-bid-from-vector-capital/article25577079/ | title=Corel agrees to takeover bid from Vector Capital | newspaper=The Globe and Mail | date=7 June 2003 }}</ref> The company was voluntarily [[Listing (finance)#Delisting|delisted]] from the [[NASDAQ]] and [[Toronto Stock Exchange]]s. Some U.S. shareholders alleged the management benefited from the buyout personally while 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]].<ref>{{Cite web|url=https://betanews.com/2005/03/07/doj-drops-microsoft-office-for-corel/|title=DOJ Drops Microsoft Office for Corel|website=betanews.com|date=8 March 2005 |language=en|access-date=2017-10-06}}</ref> Corel contended that WordPerfect was the only viable alternative to Microsoft Office, with sales 70 times more than [[Lotus Software|Lotus']] [[Lotus SmartSuite|SmartSuite]]. On April 26, 2006, Corel completed its return to the public market with an [[initial public offering]] on NASDAQ,<ref>{{cite web|url=http://news.cnet.com/2100-1014_3-6065350.html|title=Corel IPO stumbles out of the gate|first=Dawn|last=Kawamoto|website=CNET|date=2006-04-26|access-date=2015-09-05}}</ref> 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 was valued at around $196 million.<ref>{{cite web|url=http://www.corel.com/servlet/Satellite?c=Content_C1&cid=1165614963089&lc=en&pagename=CorelCom%2FLayout|title=Corel's letter to customers on the InterVideo Ulead acquisition|first=David|last=Dobson|publisher=Corel|year=2006|access-date=2015-09-05|archive-date=2008-10-09|archive-url=https://web.archive.org/web/20081009171440/http://www.corel.com/servlet/Satellite?c=Content_C1&cid=1165614963089&lc=en&pagename=CorelCom%2FLayout}}</ref> In May 2008, CEO David Dobson announced that he was leaving the company to take a senior strategy role at [[Pitney Bowes]].<ref>{{cite web|url=http://www.money2020.com/speaker/david-dobson|title=David Dobson blurb|publisher=Money 2020|year=2015|access-date=2015-09-05|url-status=dead|archive-url=https://web.archive.org/web/20150414162639/http://www.money2020.com/speaker/david-dobson|archive-date=2015-04-14}}</ref> Dobson was replaced on May 8 by former Symantec executive [[Kris Hagerman]].<ref>{{cite web|url=http://www.businesswire.com/news/home/20090729005120/en/Corel-Welcomes-Kris-Hagerman-Permanent-CEO#.Ves7wVUpBjM|title=Corel welcomes Kris Hagerman as permanent CEO|publisher=Business Wire|date=2009-07-29|access-date=2015-09-05}}</ref> In November 2009, it was announced that Vector Capital would be purchasing the remaining shares of common stock in Corel Corporation.<ref>{{cite web|url=https://techcrunch.com/2009/11/26/vector-capital-corel-corporation/|title=Corel buys out Corel|first=Robin|last=Wauters|publisher=Tech Crunch|date=2009-11-26|access-date=2015-09-05}}</ref> Upon completion, this made Corel once again privately owned.<ref>[https://money.cnn.com/news/newsfeeds/articles/marketwire/0563141.htm Corel Holdings Announces Successful Tender Offer and Commencement of Subsequent Offering Period] {{webarchive|url=https://web.archive.org/web/20091128045317/https://money.cnn.com/news/newsfeeds/articles/marketwire/0563141.htm |date=2009-11-28}}, URL accessed on 26 November 2009.</ref> On January 29, 2010, 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.<ref>{{cite web|url=http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100126007224&newsLang=en|title=Shareholders Approve Consolidation of Corel Corporation Shares|publisher=Business Wire|date=2010-01-26|access-date=2015-09-05|archive-date=2011-06-05|archive-url=https://web.archive.org/web/20110605224150/http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100126007224&newsLang=en}}</ref>

In January 2012, Corel acquired [[Roxio]] from [[Rovi Corporation]] for an undisclosed amount.<ref>{{cite news|title=Corel Buys Roxio from Rovi, Releases First Product|url=https://www.pcmag.com/article2/0,2817,2399946,00.asp|publisher=PCMag.com|access-date=13 February 2012|first=Michael|last=Muchmore|date=7 February 2012}}</ref> Subsequently, on July 2, 2012, Corel announced its acquisition of [[Pinnacle Systems]], a developer of consumer-oriented video editing products (such as the [[Pinnacle Studio]] series) owned by [[Avid Technology|Avid]].<ref>{{cite news|title=Corel Acquires Pinnacle Products from Avid|url=http://www.marketwire.com/press-release/corel-acquires-pinnacle-products-from-avid-1675861.htm|publisher=Corel press release|access-date=7 September 2012}}</ref>

Having suffered layoffs in 2003 and 2008,<ref>{{cite web|url=http://www.siliconbeat.com/2008/09/10/wordperfect-publisher-to-layoff-90-employees/|title=WordPerfect publisher to lay off 90 employees|publisher=Silicon Beat|date=2008-09-10|access-date=2015-09-05|archive-date=2015-09-24|archive-url=https://web.archive.org/web/20150924101815/http://www.siliconbeat.com/2008/09/10/wordperfect-publisher-to-layoff-90-employees/|url-status=dead}}</ref> 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<ref>{{cite web|url=http://www.obj.ca/Technology/2012-03-07/article-2917974/Corel-confirms-layoffs/1|title=Corel confirms layoffs|first=Courtney|last=Symons|publisher=Ottawa Business Journal|date=2012-03-07|access-date=2015-09-05|archive-url=https://web.archive.org/web/20150924054827/http://www.obj.ca/Technology/2012-03-07/article-2917974/Corel-confirms-layoffs/1|archive-date=2015-09-24|url-status=dead}}</ref> resulted in more layoffs. In December 2013, 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 [[Corel VideoStudio|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 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.<ref>{{Cite news|url=https://www.mindjet.com/press-release/corel-acquires-mindmanager/|title=Corel Acquires MindManager|work=Mindjet|access-date=2017-03-20|language=en-US|archive-date=2017-03-21|archive-url=https://web.archive.org/web/20170321081615/https://www.mindjet.com/press-release/corel-acquires-mindmanager/|url-status=dead}}</ref>

In June 2018, Corel announced the acquisition of Gravit GmbH.<ref>{{Cite news|url=https://medium.com/gravitdesigner/welcoming-gravit-to-the-corel-family-9cd0c7f3a32c|title=Welcoming Gravit to the Corel family|work=Medium|access-date=2018-06-26|language=en-US}}</ref>

In December 2018, Corel announced the acquisition of [[Parallels (company)|Parallels]].<ref>{{cite news|url=http://globenewswire.com/news-release/2018/12/20/1670400/0/en/Corel-Acquires-Parallels-Further-Accelerating-its-Growth-in-Global-Software-Market.html|title=Corel Acquires Parallels, Further Accelerating its Growth in Global Software Market|last=Corel|date=20 December 2018|website=GlobeNewswire News Room|access-date=20 December 2018}}</ref>

On July 3, 2019, Corel was acquired by [[Kohlberg Kravis Roberts|KKR]] for a reported $1 billion.<ref>{{Cite web|url=https://techcrunch.com/2019/07/03/kkr-corel-vector-parallels/|title=KKR confirms it has acquired Canadian software company Corel, reportedly for over $1B|website=TechCrunch|date=3 July 2019 |language=en-US|access-date=2019-07-03}}</ref>

In September 2020, Christa Quarles was named the CEO of the company.<ref>{{cite news |last1=Lashinsky |first1=Adam |last2=Pressman |first2=Aaron |url=https://fortune.com/2020/09/29/corel-ceo-kkr-christa-quarles/ |title=You should know the new CEO of this software company |work=[[Fortune (magazine)|Fortune]] |date=2020-09-29 |access-date=2020-09-29}}</ref>

In 2021, Prashant Ketkar was named the Chief Technology and Product Officer of the company.<ref>{{Cite web |date=2022-05-24 |title=Prashant Ketkar joins Corel as Chief Technology and Product Officer |url=https://www.glocomp.com/prashant-ketkar-joins-corel-as-chief-technology-and-product-officer/ |access-date=2023-05-03 |website=Glocomp Systems |language=en-US}}</ref>

In September 2022, Corel was rebranded to Alludo (wordplay on the phrase "All You Do").<ref name="gnwrebrand"/><ref>{{Cite news |last=Greiner |first=Lynn |date=14 September 2022 |title=Corel rebrands to Alludo |work=IT World Canada |url=https://www.itworldcanada.com/article/corel-rebrands-to-alludo/502985 |access-date=22 October 2022}}</ref><ref>{{Cite web |title=Corel Rebrands as Alludo But Product Names Will Live On |url=https://www.pcmag.com/news/corel-rebrands-as-alludo-but-product-names-will-live-on |access-date=2022-10-21 |website=PCMAG |language=en}}</ref>