Friday , October 7 2022

The famous Russian IT company Parallels was sold to America


Techcrunch found out selling Parallels

Canadian company Corel has agreed to purchase a US company with Russian Roots Parallels, develop products in virtual machines and remote launch applications. This is referring to its sources according to Techcrunch.

The publication claims that the part of Parallel's staff already aware of the upcoming transaction, the rest of which will soon be announced. The amount of the upcoming transaction is still unknown. It is alleged that after the sale of Parallels will remain in Corel's independent division.

Corel and Parallel's press services at the time of publication of this material could not answer the questions Techcrunch. The principal owner of Parallels Sergey Belousov At the time of publication, CNews also did not respond to requests.

Source CNews on the IT market was told about this deal. According to him, we are talking about buying not only the entire Parallel, but about buying one of its member companies. It is also called Parallels and produces virtual machines for the common market and for small and medium-sized companies. Server products are still in another holding company – Virtuozzo.

How were parallels formed?

Parallels was founded in 1994 and was originally called Standard & Western Software (Swsoft). The company was founded by Sergey Belousov and Ilya Zubarev. She was involved in custom programming. After a while, the company headquarters moved to Singapore.


Founder and principal owner of Parallels Sergey Belousov

In the first half of 2000, Swsoft acquired Russian companies Plesk and Parallels. Then the combined company Parallels is called, and its main product was the same virtual machine for MacOS. The company's head office was moved to the United States.

The company also develops virtual machines for Windows and Linux, a remote launcher of Parallels Remote Application Server applications and a mobile application for remote access Parallels Access.

Parallels has in its history signed several agreements. The company's competitor, Sphere, a German manufacturer of automation solutions for hosting ModernGigabyte and the developer of remote access software 2X Software, was acquired.

Who owns Parallels

The largest shareholders in Parallels are Sergey Belousov and Ilya Zubarev. The company has attracted venture capital investments several times. In 2005, Insight Venture Partners, Bessemer Venture Partners and Intel Capital Funds acquired a stake in the company for $ 12.5 million. In 2009, Almaz Capital Partners purchased 5 percent of the shares for $ 11 million.

In 2013, Cisco acquired approximately 1% of Parallels. A year later, Ingram Micro acquired a minority stake in the company. In 2015, the company invested money from Endeavor Vision, KG Investments, Maxifield Capital and Sanavo Capital Partners.

At the same time, Parallel's year 2015 sold one of its shareholders, according to Ingram Micro, a division of Odin, which automates the delivery of cloud services. At the same time, before the deal, Odin was awarded to Plesk (web hosting management solutions) and Virtuozzo (container virtualization technology). Together with Parallels they entered the same name.

Which companies bought Corel

Corel is a Canadian company founded in 1985. The company's main product is Graphic Editor Corel Draw. The company has a rich history of buying third party software developers. For example, in the 1990s, the company acquired the right to a WordPerfect word processor, Paradox database and WordPerfect table editor. On the basis of these products, the office suite appeared WordPerfect Office.

In addition, Corel acquired companies that developed Ulead VideoStudio video editors and Pinnacle Studio, WinDVD video players, WinZIP archives, Paint Shop Pro graphic editor, etc.

Corel's latest acquisition is Mindjet MindManager, a developer of visualization software and developer of the same graphic editor Gravit. Since 2003, Corel has been owned by Vector Capital.

Source link