Corel Acquires Jasc Software

Corel Coporation has acquired Jasc Software, developer of the Paintshop family of digital photography and image-editing software. Corel will sell Paint Shop Pro, Paint Shop Pro Studio, and Paint Shop Photo Album as standalone products and will provide worldwide service under the Corel brand. Corel will maintain the former Jasc facility in Minneapolis, MN.

“The acquisition expands our reach in digital-imaging software”?one of the key drivers behind our growth strategy,” says Amish Mehta, Corel's CEO. “The Paint Shop family gives us strong entry-level graphics and imaging software products that will help Corel capture millions of new customers”?we will significantly expand our footprint with consumer who regularly purchase digital-photography software.”

Several Jasc senior management team members will join Corel. The acquisition is expected to officially close by the end of October 2004. (Corel Corporation: www.corel.com)