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Corel Corporation Signs Definitive Agreement to Acquire InterVideo
Corel Corporation Signs Definitive Agreement to Acquire InterVideo.
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[{"type":"text","content":"\n\n\n\n\nOTTAWA & FREMONT, CALIF., August 28 /CNW/ -\n\n\nAcquisition Creates Industry's Broadest Portfolio of Digital Imaging and\nDVD Video Software; Transaction Positions Corel to Accelerate Revenue and\nEarnings Growth\n\nCorel Corporation (NASDAQ:CREL)(TSX:CRE) and InterVideo (NASDAQ:IVII)\ntoday announced that the two companies have entered into a definitive\nagreement for Corel to acquire InterVideo, a leading provider of multimedia\nDVD software, in an all-cash transaction at a price of $13 US per share or\napproximately $196 M.\nInterVideo's comprehensive suite of advanced digital video and multimedia\nsoftware products allow users to record, edit, author, distribute and play\ndigital multimedia content on PCs and other devices. In 2005, InterVideo\nacquired a majority interest in Ulead, a leading developer of video imaging\nand DVD authoring software for desktop, server, mobile and Internet platforms.\nThese complementary solutions and the technologies they are based on have\nenabled InterVideo to deliver complete HD-DVD and Blu-Ray DVD solutions to\nmarket, just as the market for high definition video is beginning to gain\nmomentum.\nWhen the acquisition is completed, Corel will provide the industry's\nbroadest portfolio of digital media software ranging from photo sharing and\nimage editing products to advanced digital imaging, video editing, and\nhigh-definition DVD creation and playback software. Customers and partners\nwill now have access to a full breadth of popular, award-winning digital media\nbrands including WinDVD(R), WinDVD Creator, Ulead(R) Photo Impact(R), Ulead(R)\nVideoStudio(TM), Ulead DVD Movie Factory(R), and Corel(R) Paint Shop(R) Pro --\nall from a single, trusted source.\nBy acquiring InterVideo, Corel is delivering on its strategy to\naccelerate revenue and earnings growth by acquiring complementary companies\nand technologies that will benefit from Corel's global sales, marketing, and\ndistribution capabilities. With a robust product line, strategic partnerships\nwith leading OEM manufacturers, and an established presence in Asia Pacific\nand Europe, InterVideo will provide Corel with added critical mass to\nefficiently serve the growing consumer demand for digital media software. This\nacquisition is especially strategic for Corel given InterVideo's strength in\nAsian markets, including C...