KKR-backed Corel buys remote access tech platform Awingu

KKR acquired Corel in 2019 for a reported $1 billion.

• Awingu partners with organizations like Microsoft, Blackberry, and Barracuda
• Awingu was previously back by Pamica NV, an investment company of Awingu’s former executive chairman, Michel Akkermans
• Awingu will become part of Parallels brand portfolio

KKR portfolio company Corel, a creativity and productivity solutions company, announced it has acquired Awingu. No financial terms were disclosed.

Corel is an Ottawa-based provider of graphics and office productivity packaged software. It is known for consumer-focused products like WordPerfect, WinZip, PaintShop Pro and CorelDRAW.

Awingu is a Belgian provider of secure remote access technology. It will become part of the Parallels brand portfolio. Parallels, part of the Corel group, is an all-in-one application delivery and virtual desktop infrastructure solution that provides remote access to virtual applications and desktops.

Awingu partners with organizations like Microsoft, Blackberry, and Barracuda and is available in over 20 countries.

“The future of work is now; we are living it. The pandemic further accelerated the need for organizations to determine and shift their remote and hybrid work infrastructures. Now, organizations are figuring out how they can cater to the flexibility that employees want with their workplaces while also ensuring secure and efficient access,” said Prashant Ketkar, Chief Technology and Product Officer at Corel. “We’re committed to helping organizations navigate this shift in the workplace, and with the addition of Awingu we’re one step closer to improving the experience for every stakeholder that interacts with our products.”

Walter van Uytven, CEO of Awingu commented “Together with Parallels remote application server (RAS), we’ll bring a broader, richer set of solutions across the secure remote desktop and app streaming industry to our customers.”

KKR acquired Corel from Vector Capital in 2019 in a deal reported to be about $1 billion. Vector had previously taken Corel public in 2006, raising $104 million before taking it private again in 2010. At the time of the acquisition one of KKR’s stated ambitions was to build out Corel’s acquisitions, one of which being Parallels.