Vector Capital's Corel acquires VC-backed Gravit Designer
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.
25 June 2018•3 mins read
