Corel Corporation today announced the completion of its acquisition of InterVideo, Inc., a leading provider of digital media authoring and playback software with a focus on high-definition video and DVD technologies. Corel purchased InterVideo for $13.00 per share of InterVideo common stock resulting in an aggregate acquisition price of $198.6 million in an all-cash transaction. The acquisition substantially expands Corel's presence in the digital media software market by creating the industry's broadest portfolio of digital imaging and DVD video products. With the addition of InterVideo, Corel will deliver easier-to-use, multi-purpose high-definition video, imaging, and DVD creation products to consumers and enterprises worldwide while extending its presence in fast-growing Asian markets, such as China, Taiwan and Japan.
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InterVideo's comprehensive suite of advanced digital video and multimedia software products allow users to record, edit, author, distribute and play digital multimedia content on PCs and other devices. In 2005, InterVideo acquired a majority interest in Ulead, a leading developer of video imaging and DVD authoring software for desktop, server, mobile and Internet platforms, and the acquisition of the remaining interest in Ulead is expected to be completed before the end of 2006.
The acquisition combines Corel's key strengths - business model innovation, understanding of end user requirements and established distribution in the Americas and Europe - with InterVideo's core assets, which include video technology innovation, established partnerships with the world's leading PC OEM partners and strong market presence in the Asia Pacific region. "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," said Corel Chief Executive Officer David Dobson. "We welcome InterVideo's employees, customers and partners to Corel and we look forward to working with them."
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