Corel to Buy InterVideo for $196 Million in Cash
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From Reuters
Corel Corp. said it would buy InterVideo Inc. for $196 million in cash, rounding out its portfolio of multimedia software offerings.
Shares of Fremont, Calif.-based InterVideo, whose software lets users record, edit and play digital audio and video content, rose 32%, or $3.05, to $12.65 after Corel’s $13-a-share offer was announced. Ottawa-based Corel gained 16 cents to $10.04.
Corel Chief Executive David Dobson said InterVideo had revenue of $109 million in 2005, but its profitability wasn’t as good as Corel’s, the maker of WordPerfect and CorelDRAW software.
