Blog Post

Parallels Gets $11M Cash Influx

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A Russian business newspaper is reporting today that venture capital firm Almaz Capital Partners acquired a 5 percent stake in popular virtualization software vendor Parallels. The stake was purchased from its previous owners, Insight Venture Partners, for $11 million.

The fund used to finance Almaz’s purchase was seeded in July of last year with $30 million from networking infrastructure vendor Cisco. While there’s no word on what led Almaz to invest specifically in Parallels, reports indicate “plans to invest $100 million in growth stage Russian software and IT companies over the next year.”

Consumer- and enterprise-level virtualization is a hot topic in the tech community these days, with Parallels, VMware Fusion, and Apple’s Boot Camp all vying for the top spot in the hearts of users wanting multiplatform capabilities on their Macs. Though Fusion edged out Parallels in our comparison, Parallels gained ground in a recent major update that includes experimental support for Windows 7 and supports Snow Leopard as primary and guest operating system.