Canadian software vendor Corel remains bullish about its future success despite the more gloomy signs of a recession deepening in the IT industry.
The company, which received a multimillion pound lifeline from Microsoft last year to help it survive a financial downturn, has acquired graphics software vendor Micrografx and released a new suite of products.
Corel specialises in creative software and launched the Procreate line of products late last month. The software, which will be sold through both the channel and retail, is aimed at the professional creative market for both Mac and PC users.
Micrografx was acquired for an undisclosed sum in a stock-for-stock transaction in July.
Greg Wood, communications manager at Corel, said that the firm had survived a "tough period" and was "confident for the future". "Our restructuring programme had three goals: restructuring, new products and acquisitions," he said.
Wood claimed that business had been buoyant and that Corel had been able to make its first acquisition and release its new products earlier than anticipated.
"We will be speaking closely with our [channel] partners to ensure maximum success with the Procreate software," he said, claiming that the channel was "very important" to Corel's strategy.
Chief executive Derek Burney maintained that the company was delivering on its promises. "Ever since we unveiled our growth strategy in January 2001, we have maintained a singular vision and strict focus on executing our strategic goals," he said.
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