Corel completes acquisition of InterVideo

Imaging software vendor grows presence in Asia and expands high-definition offering

Corel has officially completed its acquisition of InterVideo for an aggregate acquisition price of $198.6m in an all-cash transaction.

The acquisition will help Corel expand into the digital media software market, the firm said. InterVideo also focuses on high definition and DVD technology.

The firm has said that all partners will continue to work through their respective vendors until further integration is completed.

Corel chief executive officer David Dobson, said: "This strategic combination further strengthens Corel's leadership position in digital media software and will enable us to deliver even greater value to our customers, partners and shareholders worldwide. We welcome InterVideo's employees, customers and partners to Corel and we look forward to working with them."