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Corel Buys InterVideo

Ottawa, Canada – Corel said it would buy video software maker InterVideofor $196 million.

The move brings greater video editing capabilities, including HD-DVD and Blu-Ray HD video authoring, into Corel’s stable of graphics and digital imaging products. InterVideo acquired a majority interest in Ulead in 2005, which also makes imaging and video editing software, in 2005. Corel will acquire Ulead’s titles as well as InterVideo’s.

Corel would not indicate whether it intends to keep the Ulead and InterVideo software titles – as it has with the PaintShop brand it acquired when it purchased Jasc Software in 2004.

The acquisition is subject to InterVideo shareholder approval, regulatory approvals, and other customary closing conditions. The transaction is expected to close in the fourth quarter of 2006.