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Corel Acquires WinZip, Completes IPO

Corel Corporation has completed the acquisition of WinZip Computing. WinZip has faced increased competition in recent years, notably the inclusion of basic Zip compressed folder handling within Windows XP itself, but WinZip is still the leading maker of after-market compression utilities.

In addition, Corel Corporation has completed its Initial Public Offering. Although in this case "initial" has a relative meaning as it was previously listed and then privatized. Now it is being made public again.

Corel Corporation will use the US$69 million raised in its latest IPO to pay back outstanding debt from both Corel and WinZip Computing. Corel Corporation also announced that it has borrowed US$90 million for a new credit facility.

View: Official Press release

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