Ottawa-based software company Corel Corp has acquired Gravit Designer, a cross-platform, web-based vector graphic design application and the flagship product of Germany’s Gravit GmbH. No financial terms were disclosed for the deal, which saw Corel buy all assets previously owned by Gravit. Corel said it plans to accelerate the Gravit product line roadmap, expanding Gravit Designer’s reach to new markets and regions. Founded three years ago, Gravit was backed by German venture capital firm High-Tech Gründerfonds. Corel was taken private in 2003 and 2010 by U.S. private equity firm Vector Capital.
Corel Expands Graphic Design Software Portfolio with Acquisition of Gravit Designer
Web-based, vector design tool joins the Corel portfolio of applications including CorelDRAW, Painter, and PaintShop Pro
OTTAWA, June 22, 2018 (GLOBE NEWSWIRE) — Corel Corporation announces the acquisition of Gravit Designer™, a leading cross-platform, web-based vector graphic design application. Under the purchase agreement, Corel acquired all products and technology previously owned by Gravit GmbH. Financial details were not disclosed.
Corel is pleased to welcome the Gravit® product team to its development group. The company plans to accelerate the Gravit product line roadmap, expanding Gravit Designer’s reach to new markets and geographies, and ensuring its position as a leader in web-based graphic design. Gravit Designer joins the Corel graphics and digital media portfolio of products including industry-leading applications CorelDRAW® Graphics Suite, Painter®, and PaintShop® Pro.
“With a passionate and active community of users, Gravit offers an exceptional web-based graphic design experience. This acquisition further expands Corel’s cloud-based software offerings, and with our support and investment, Gravit Designer is well positioned to grow its leadership in this space. We’re excited for the opportunities ahead for this exceptional product,” said Patrick Nichols, CEO of Corel.
“Much of Gravit Designer’s success can be attributed to the incredible people behind its creation. We’re thrilled to have these talented and dedicated Gravit developers and designers join our team,” said Gérard Métrailler, Executive Vice President of Global Products at Corel. “We’d like to thank Gravit founder Alexander Adam for his vision and leadership that made Gravit Designer an exceptional product, and wish him the best with his next venture.”
“Corel has recognized and endorsed the innovation and vision behind the products and technology developed by the Gravit team,” said Dr. Marc Umber, Senior Investment Manager, High-Tech Gründerfonds, former investors in Gravit GmbH. “We are pleased that Corel, a global leader in creative software, will now enable the next stage of growth for this exceptional technology.”
Gravit Designer is an HTML5-based, cross-platform design tool for the 21st century that offers vector design right at your fingertips. Powering graphics creation in modern web browsers on every platform, from Windows and macOS to Chromebook and iPad, Gravit Designer can be used for free from https://designer.io/.
Corel is one of the world’s top software companies. Our mission is simple: to help people achieve new levels of creativity, productivity, and success. For more information, please visit www.corel.com.
© 2018 Corel Corporation. All rights reserved. Corel, the Corel logo, the Corel Balloon logo, CorelDRAW, Gravit Designer, Painter, and PaintShop Pro are trademarks or registered trademarks of Corel Corporation and/or its subsidiaries in Canada, the U.S., and elsewhere. All other trademarks mentioned herein are the property of their respective owners. Patents: www.corel.com/patent.