Corel

Corel

August 09, 2016 08:00 ET

Corel Acquires MindManager

Corel grows its portfolio with the addition of the industry's leading mind mapping and information visualization software

OTTAWA, ONTARIO--(Marketwired - Aug. 9, 2016) - Corel today announced that it has acquired the Mindjet® MindManager® business from Spigit, expanding its product portfolio to now include the world's leading mind mapping and information visualization software, MindManager® for Windows, MindManager® for Mac, and MindManager® Enterprise. Financial details of the agreement were not disclosed.

Corel sees new opportunities to expand MindManager's business taking advantage of Corel's global sales and marketing organizations and robust network of partners. Corel plans significant investment into the MindManager products, leveraging the team's best practices and strength in B2B. As part of the transaction, the company will welcome employees from the MindManager team to its sales, marketing, product management and development groups.

"We are very excited to have the MindManager team join Corel's business. MindManager gives clients a simple, graphical way to organize and visualize ideas. With the strength of our brands including CorelDRAW and Corel Painter, Corel is a long-time leader in technologies that drive visual communication. We believe these highly complementary strengths offer a wealth of opportunity for future innovation," said Patrick Nichols, CEO of Corel.

"We're impressed with the vision and commitment Corel's leadership brings to MindManager. MindManager customers and the MindManager team have found a great home with Corel," said Scott Raskin, President and CEO of Spigit.

MindManager is the industry-leading software that helps business professionals achieve more by efficiently organizing and clearly communicating complex ideas and information. With over 4,500 corporate customers and 2.5 million paid users, including 83% of the Fortune 100 companies, MindManager mind mapping and information visualization software enables brainstorming and creative problem solving, improves communication, and gives users the ability to plan and complete complex projects more efficiently and effectively.

MindManager joins Corel's extensive software portfolio offering some of the world's most well-known software brands including Corel®, Pinnacle™, ReviverSoft®, Roxio® and WinZip®.

"Corel has grown its business and user base on the strength of its established brands and through the successful acquisition of products including Pinnacle, ReviverSoft and Roxio. Based on this proven experience and track record, Corel sees tremendous possibilities and benefits we can deliver together with our new MindManager team," added Nichols.

"Corel is one of Vector's most iconic portfolio companies and certainly one of our most successful investments. We are thrilled to support management in the continued growth of this unique platform," said Rob Amen, Managing Director, Vector Capital.

About Corel

Corel is one of the world's top software companies, boasting some of the industry's best-known graphics, productivity, digital media and mind mapping products. We've built a reputation for giving customers more choice, and delivering solutions that are easy to learn and use. Our mission is simple: help people achieve new levels of creativity and productivity.

Corel's product lines include CorelDRAW® Graphics Suite, Corel® Painter®, Corel® PaintShop® Pro, Corel® VideoStudio®, Corel® WordPerfect® Office, MindManager®, Pinnacle Studio™, ReviverSoft®, Roxio Creator®, Roxio® Toast™ and WinZip®. For more information on Corel, please visit www.corel.com.

© 2016 Corel Corporation. All rights reserved. Corel, the Corel logo, the Corel Balloon logo, CorelDRAW, MindManager, Mindjet, Painter, PaintShop, Pinnacle, Pinnacle Studio, ReviverSoft, Roxio, Roxio Creator, Toast, VideoStudio, WinZip and WordPerfect are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries in Canada, the U.S. and elsewhere. All other trademarks mentioned herein are the property of their respective owners. Patents: www.corel.com/patent

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