Corel Acquires Jasc Software

Looking to take on Adobe and Microsoft in the graphics arena, Corel has announced the purchase of Jasc Software, maker of the popular Paint Shop Pro image editing tool. Terms of the deal were not disclosed, but Corel said it plans to continue marketing Jasc software independently and bundled with Corel titles.

"Like Corel, Jasc has consistently delivered innovative, reliable and easy-to-use graphics solutions at a very competitive price point," said Corel CEO Amish Mehta. "This acquisition signals our focus on increasing the breadth of our product family in order to service the broad, growing market of value-conscious consumers and businesses."

Jasc announced the acquisition in an e-mail to users, saying the move will help the company with its new research and development efforts. Corel will take over customer support for Jasc's product line.

"The Paint Shop family gives us strong entry level graphics and imaging software products that will help Corel capture millions of new customers," said Mehta.