Corel bolsters visualisation prowess with MindManager buy

Software vendor says it will use its partner network to help expand acquired company's global reach

Software vendor Corel has acquired MindManager in a bid to expand its information visualisation portfolio.

MindManager specialises in mind mapping and information virtualisation software. Graphic processing specialist Corel plans to put "significant investment" into the business using Corel's global reach and "robust network of partners". As part of the acquisition MindManager staff will be offered positions at Corel.

MindManager was part of MindJet before the acquisition took place for an undisclosed amount.

Canadian vendor Corel was founded in 1989 and was a public company until 2002 when private equity investor Vector Capital took the company private. It then floated on NASDAQ in 2006 before Vector took it private again after its stock prices took a hit during the recession.

The move tops a summer of consolidation in the software space that has seen Microsoft snap up LinkedIn for $26bn (£20bn), Oracle gobble NetSuite for $9.3bn and Verizon announce its intent to buy Yahoo for $4.8bn.

Patrick Nichols, CEO of Corel, said: "We are very excited to have the MindManager team join Corel's business. MindManager gives clients a simple, graphic way to organise and visualise ideas. Corel is a long-time leader in technologies that drive visual communication. We believe these highly complementary strengths offer a wealth of opportunity for future innovation.

"Corel has grown its business and user base on the strength of its established brands and through the successful acquisition of products including Pinnacle, ReviverSoft and Roxio. Based on this proven experience and track record, Corel sees tremendous possibilities and benefits we can deliver together with our new MindManager team."