Excerpt from The PC Pioneers
In 1996 Corel acquired WordPerfect from Novell, at the time the market leader in word processing software.
On this day in 1997 Corel launched its WordPerfect Suite for DOS.
Microsoft soon challenged this by bundling Word with many new PCs.
The founder Michael Cowpland left following insider trading allegations and the new management soon formed an alliance with Microsoft, MS investing $135m in Corel. Buoyed by this Corel acquired Micrografx for its Picture Publisher and Designer graphics packages. The Micrografx ABC Graphics Suite seemed to be more accepted in the small business sector rather than Corel’s pro-graphics target market.
But in 2003 Corel was acquired by Vector Capital, a private equity operation, and delisted from the NASDAQ and Toronto exchanges.
By 2005 it claimed that some 20 million WordPerfect licences were issued and that this was growing by 4 million each year by virtue of a bundle deal with Dell. Based on this Corel was re-quoted on the NASDAQ in 2006 and promptly gobbled up WinZip with the proceeds.