Corel Buying Parallels »

Corel — the makers of CorelDraw and WordPerfect, among other things — is purchasing Parallels, the virtualization company, according to Ingrid Lunden at TechCrunch:

Employees at Parallels were briefed on the acquisition Tuesday, one source said. Terms have not been disclosed, but we understand it is an all-cash deal.

The acquisition is expected to close in December, and the companies will make the news public then. From what we understand, Corel will keep Parallels as an independent product.

I’m not trying to be funny, but I honestly didn’t know Corel was still around. I hope they do right by Parallels on the Mac.