Hennepin Partners advises Ad Remover on its sale to Corel
Austin, TX – Hennepin Partners announced that it has successfully advised Ad Remover on its acquisition by Corel Inc.
Ad Remover™ is a market leading B2C SaaS provider of a subscription based, powerful, intuitive in-browser extension used to block ads and activity trackers, resulting in faster webpage load times, superior privacy protection and decreased data usage.
“Corel sees many synergies between Ad Remover and our overall utilities business as we leverage the strengths of our extensive digital direct platforms, partnerships and channels to take Ad Remover to new markets and dramatically expand its global presence,” said Christa Quarles, CEO of Corel. “As a fully subscription-based product with strong customer retention, Ad Remover fits well into Corel’s next phase of growth and our commitment to offering users exceptional, high-value subscription experiences. We look forward to advancing Ad Remover’s mission which, like our renowned WinZip products, empowers customers to take control of their privacy and security on their platforms of choice – Windows, Mac and mobile.”
“With a strong history of growth and drive to deliver value to our customers, the Ad Remover team is excited to have found a partner who shares our philosophy and has the resources to take our products to the next level,” said Jon Coudron, CEO of Ad Remover. “As part of Corel, we can now unlock new opportunities for our technology and extend our reach to millions of customers around the world.”
Jim Clancy, Managing Director/Partner at Hennepin Partners commented, “Jon and his team did a remarkable job building this business over the past 5+ years. The growth, profitability and retention rates are all outstanding and evidence of the value they provide their customers. We wish Jon and his team continued success under the Corel umbrella.”
“We really enjoyed working with the Hennepin team and could not be happier that we selected them as our investment bank,” added Coudron. “They invested the time to understand our business and my team’s objectives in a transaction – and ultimately helped guide us through a process to this incredible new partnership with Corel.”
Hennepin Partners acted as Ad Remover’s exclusive financial advisor and Fredrikson & Byron served as legal counsel. Kirkland & Ellis LLP served as legal counsel for Corel Inc. Terms of the transaction were not disclosed.
Corel products enable more than 90 million connected knowledge workers around the world to do great work faster. Offering some of the industry’s best-known software brands, we give individuals and teams the power to create, collaborate and deliver impressive results. Our success is driven by an unwavering commitment to deliver a broad portfolio of innovative applications to inspire users and help them achieve their goals.
Corel’s creative, productivity and virtualization solutions leverage the latest in technology to empower knowledge workers. Parallels® solutions, including Parallels® Desktop for Chrome OS, enable workers to use and access the applications and files they need across their favorite devices and preferred technology – whether local or remote. Cloud-based collaboration capabilities in MindManager® and CorelDRAW® streamline the sharing of ideas in a world that forces them to work apart. Utilities including WinZip® System Utilities, Parallels® Toolbox, Ad Remover™, ReviverSoft® and SimpleStar™ make it easier for people to be as productive as possible, protect their privacy, and get optimal performance from their systems. While WinZip’s encryption, file management and compression solutions deliver secure file sharing across email, a network or the cloud.
For more information, visit www.corel.com.