The shopping of Corel continues

Group strategy The shopping of Corel continues

Compared to the IT BUSINESS Christa Quarles, CEO of Corel, told which route the Corel group is going to take. It is one of acquisition, and in terms of the subscription and Cloud-Era, the company has a clear strategy.

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Screenshot of a work in CorelDRAW 2019 for Windows.
Screenshot of a work in CorelDRAW 2019 for Windows.

(Photo: Corel)

With Corel connect many of the graphics software CorelDraw, however, the roof, under the Group in the context of a broad-based Mergers-and-Acquisitions-strategy collects some of the Software brands. This includes product lines such as Parallels, Mindmanager, Winzip, and Pinnacle count. Christa Quarles, CEO of Corel, explains that the focus lies on the technologies, the knowledge workers in their tasks.

Christa Quarles, CEO, Corel

Christa Quarles, CEO, Corel

(Photo: Corel)

“In 2016, we purchased MindManager, a Suite of visualization and Mind-Mapping Tools. In the year 2018, the Parallels product line, including Parallels Desktop for Mac was added to Corel’s Portfolio. With the Acquisition of Gravit designers, we were also able to expand our graphics business.“ Just over a year ago Corel joined KKR (formerly Kohlberg Kravis Roberts & Co). The company, founded 1976, a listed investment company with headquarters in New York City provides the financial Background for the Acquisitions. “With the support of one of the world’s leading global investment firms behind us, we enthusiastically take our next growth Chapter in attack”, lets Quarles through. “Even if we can’t speak to specific acquisition plans, so you can assume that we will grow through M&A activities.”

Technologies for knowledge workers

In terms of the extensive Portfolio you search for “new Ways to leverage the collective Strengths to build synergies,” said the Manager. These efforts were never so important as today, because this is Happening in and around Covid-19 the way I have changed as dramatically. Corel plans to use its technologies for knowledge workers to equip witnesses with the required work. “For example, virtualization tools such as Parallels Desktop, our new CorelDRAW-Collaboration features and the new support for Microsoft team in MindManager and WinZip valuable Tools for people in Transition to home and work environments are full”, the CEO specifically.

In view of the challenging time Corel strengthened, according to Quarles, the support for the network of Resellers and distribution partners through the introduction of a “Corel Deal Registration Program”: participants can benefit at the end of re – seller – if the criteria are met-until the end of February 2021 to a limited set of in addition, 17 percent Commission.

Regardless of the Partner have access to a support system, says the Corel Boss, and stresses that there is a Wealth of resources for the indirect sales will be provided, including personalized Demos, training, webinars, or customer testimonials. Eligible products include the CorelDraw Graphics Suite, CorelDraw Technical Suite, PaintShop Pro and CorelCAD for the special Commission.

To Cloud or not to Cloud – is that really the question?

The competitor, Adobe has taken with Creative Cloud from the model of perpetual licenses. Corel benefits on the one hand, the fact that many customers generally prefer to purchase licenses to rent their Software, on the other hand, the Cloud also offers technological advantages. In this field of tension Corel relies on the choice of the customer, the Manager. The company offers both subscription and perpetual purchase options. “The Subscription software offers our customers several advantages, including the certainty that the continued use of the most advanced and latest Version of our Software with access to the latest features and support for cutting-edge technologies,” said Quarles. “In addition, many customers appreciate the lower up-front costs that may be associated with subscriptions. In many ways, the subscription model offers customers the greatest Benefit.“ With a subscription, the users of CorelDRAW Graphics Suite 2020 could access, for example, Cloud-based collaboration features that make it easier for the Teams to stay in touch, the CEO. Especially in these difficult times in which we are all forced to work separately, is of particular relevance.

To offer choices, carrying, however, also take into account the fact that some customers prefer to purchase perpetual licenses, and with the Know well would feel, that they can be supported to use the Software for as long as current technologies and operating systems.

Complementary to the topic

The woman at the Corel tip

At the end of September 2020, Corel Corporation announced that Christa Quarles was appointed the new Chief Executive Officer and the Board of Directors. Quarles was previously CEO at OpenTable and had various Management-Poisionen at NextDoor and The Walt Disney Company. At Playdom – a company that was acquired by Walt Disney, she worked as a Chief Financial Officer. Quarles has a Bachelor of Science degree in Economics and an MBA from the Harvard Business School.

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“The Key Market Of Germany”

While in the market of planned adjustments in the Segment direct sales and Online sales is rumored to have known the Manager for this purpose, no specific Changes. “We evaluate constantly our business and the markets in which we compete, to ensure that we will provide our partners with compelling offers.”

Germany Quarles referred to as a “key market” for the business. German customers and partners have for Corel’s top priority. “And even if we announce currently no special Changes to our distribution channel strategy, I can say that our partners can continue to count on the fact that we are always looking for new Ways to ensure that we bring all the Success,” says the Top Manager. This also includes the provision of innovative products and flexible licensing options am. With other words: The Adobe way of the Creative Cloud, so Cloud-only, not going to go in case of Corel, but customers have the choice to leave.

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