Corel Corp yesterday said it would expand its research and development (R&D) force in Taiwan as part of greater efforts to benefit from the fast-growing digital media software market in Asia.
The move follows the Canadian software developer's acquisition of Taiwanese video, image and DVD software designer Ulead Systems Inc (友立資訊) -- as well as another media-authoring and playback software developer, InterVideo Inc at the end of last year -- to refocus on a new growth area.
The acquisitions boosted Corel's presence in the digital media software market by creating the broadest portfolio of digital imaging and DVD video products in the industry.
"Now we have 250 engineers in our Taipei and Kaohsiung centers. The number will grow. Last week we closed our Minneapolis R&D center, where we had 50 people, and moved some of them to Taipei," Jeff Hastings, president and general manager of Corel Digital Media, told a press briefing in Taipei.
Hastings declined to reveal the firm's investment in its local R&D centers, but said most of its media software investment was in Asia.
Corel's Taiwan branch has 400 employees. The company also has an R&D center in Shanghai.
"Corel Taiwan serves as one of our key operation centers in the Asia-Pacific market, allowing us to get closer to our customers," chief executive officer David Dobson said in a statement.
Corel generated 21 percent of its revenues from the Asia-Pacific region after acquiring InterVideo and Ulead, up from 8 percent before the mergers.
"Asia will still be the fastest-growing area for Corel this year," Hastings said. "Though the growth will not be as fast as last year."
Total revenues might reach US$250 million in the fiscal year that ended last Friday and may grow 10 percent annually next year, matching the overall industry's growth, Hastings said.
Corel is working with Asustek Computer Inc (華碩), Acer Inc and others to install its software in computers.
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