Corel Corporation Relaunches as Independent Company Backed by Vector Capital

Corel is Positioned for Long-Term Growth Through Product Innovation, AI Integration, and Strategic M&A

OTTAWA, Ontario and SAN FRANCISCO, May 05, 2026 (GLOBE NEWSWIRE) -- Corel Corporation (“Corel” or the “Company”) today announced it has relaunched as an independent company following the completion of Vector Capital Management, L.P.’s (“Vector”) acquisition of Corel’s portfolio of creativity and productivity software and related brands. Prasannaa Ganesan has assumed the role of Chief Executive Officer effective at close.

Corel’s products are used by a large user base worldwide daily to create, ideate, and collaborate, providing professional software for graphics, productivity, and digital workflow management. The Company’s broad portfolio of desktop and digital tools include trusted brands such as CorelDRAW, WinZip, MindManager, PaintShop Pro, VideoStudio, Pinnacle, Roxio, and WordPerfect. Corel and Vector plan to pursue an active acquisition strategy, leveraging Corel’s established brands and global go-to-market platform as the foundation for building a broader portfolio.

Prasannaa Ganesan, Chief Executive Officer of Corel said, “I spent more than a decade with this business, and I know what it is capable of. We have the team, the customer relationships, and a partner in Vector that knows Corel as well as we do and has partnered with us through multiple phases of growth. We are not starting from scratch – we are starting from a position of strength.”

Agile Operating Structure with a Focus on Core Priorities

As an independent company, Corel will benefit from a more agile operating structure that will allow it to pursue three core business priorities:

1. Customer experience: Enhancing the end-to-end customer journey across Corel’s global user base, from first interaction through ongoing support;
2. AI Integration: Embedding AI across the product portfolio from intelligent creative tools in CorelDRAW to workflow automation in MindManager and WinZip; and,
3. Strategic M&A: Executing a deliberate acquisition strategy targeting businesses with loyal user bases and strong retention that can benefit from investment and Corel's global go-to-market platform. Corel's established brands will serve as the foundation for that strategy, with an eye toward both complementary products and expansion into new verticals over time.
   
   

Alex Slusky, Founding Partner of Vector Capital, added, “Vector is deeply familiar with Corel’s business, product suite, underlying technology, and long-tenured management team. We share a clear vision for the company’s next phase of growth and are excited to build on its strong global installed base by advancing product innovation and embedding AI capabilities directly into the workflows customers rely on every day.”

Tom Smith, Principal at Vector Capital, commented, “Corel is a compelling platform, with a collection of iconic, trusted brands with deep customer loyalty and a long history of generating durable value. We see significant opportunity to build on that foundation, both by continuing to invest in the existing portfolio and by identifying businesses whose customers and capabilities would benefit from Corel’s scale and go-to-market strength.”

Paul Hastings LLP served as legal counsel to Vector Capital, with Alvarez & Marsal serving as financial advisor.

About Vector Capital
Vector Capital is a leading, San Francisco-based investment firm focused on transformational investments in middle-market technology and technology-enabled businesses. Founded in 1997, Vector manages over $3.7 billion of capital across credit and private equity strategies on behalf of a high-quality group of global limited partners. For over 29 years, Vector has combined technology investments with operational transformation to deliver breakthrough results. For more information, visit www.vectorcapital.com.

About Corel
Corel products enable knowledge workers around the world to do great work faster. Offering some of the industry's best-known software brands, we give individuals and teams the power to create, collaborate, and deliver impressive results. Our success is driven by an unwavering commitment to deliver a broad portfolio of innovative applications – including CorelDRAW, MindManager, and WinZip – to inspire users and help them achieve their goals. To learn more about Corel, please visit www.corel.com.

Media Contact

For Corel:
Jessica Gould
Senior Director, PR & Communications
jessica.gould@corel.com

For Vector Capital:
Nathaniel Garnick / Grace Cartwright
Gasthalter & Co.
(212) 257-4170
vector@gasthalter.com

© 2026 Corel Corporation. All rights reserved. Corel, CorelDRAW, MindManager, WinZip, PaintShop Pro, VideoStudio, Pinnacle, Roxio, and WordPerfect are trademarks or registered trademarks of Corel Corporation. All other company, product and service names, logos, brands and any registered or unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of Corel Corporation. For all notices and legal information please visit www.corel.com/en/legal-information/