Corel has acquired Jasc Software and the company’s family of Paint Shop products for digital photography and image editing for an undisclosed sum.
Corel claims that they will continue to sell Paint Shop Pro, Paint Shop Pro Studio and Paint Shop Photo Album as stand-alone products under the Corel brand. They also indicate that they will be investigating in research and development to continue the development of the Paint Shop product line.
Corel, best known for its CorelDraw Graphics Suite, Corel Painter natural-media painting and illustration software and WordPerfect Office Suite, hopes that the purchase of Jasc will help it expand in the area of image and photo editing.
"The acquisition expands our reach in digital imaging software - one of the key drivers behind our growth strategy," said Amish Mehta, CEO of Corel. "The Paint Shop family gives us strong entry level graphics and imaging software products that will help Corel capture millions of new customers. Over the long term, we will significantly expand our footprint with consumers who regularly purchase digital photography software - a fast growing software market segment."
Corel corporate headquarters will remain in Ottawa, Canada. Corel will maintain the former Jasc facility in Minneapolis for the Paint Shop family operations. Amish Mehta will continue to serve as the Chief Executive Officer of Corel Corporation. Several members of the Jasc senior management team will join Corel, according to Corel.