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Founded | 1985 |
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Revenue |  250.5 million USD (2007) |
Employees | 1,110 (2008)[1] |
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Corel Corporation from the abbreviation ("Cowpland Research Laboratory") is a computer software company headquartered in Ontario, Canada that specializes in graphics processing, similar to Adobe Systems. It is known for producing software titles such as CorelDRAW, Paint Shop Pro and later acquired major competitors such as Ulead Systems.
History
Corel was founded by Michael Cowpland in 1985, as a research laboratory . The company had great success early in the high-tech boom of the nineties with the product CorelDraw (being one of the Three Killer Apps of OS/2), and became, for a time, the biggest software company in Canada. In 1996 it acquired Novell WordPerfect and starting competing with the thought of "Pepsi to Microsoft's Coke" analogical business management, as Microsoft Word was the top-used word processing software at the time. Corel's job was made significantly more difficult due to Microsoft's strategy to push pre-loaded copies of Word onto new computers.
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 five brands. A few months later, it was to be three brands (DeepWhite, ProCreate and Corel). Finally it was decided that the company would go back to using "Corel" as the company's only brand and much of the later years consists of a series of acquisition and company restructuring.
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