The U.S. private equity firm was in talks to buy Corel for over $1 billion in May. An internal memo states the deal has now closed. It does not indicate a sale price, but does state that the deal comes with an infusion of cash to expand its current products, which include WordPerfect and PaintShop Pro, as well as to fund acquisitions. (TechCrunch, PE Hub)

Talking point: This is KKR’s first Canadian tech deal since the firm said in June that it was looking to invest in Canadian tech; it had been continuously outbid by other companies since then. If the billion-dollar-plus sale price is accurate (neither firm has disclosed deal financials), Corel would join the growing number of Canadian tech unicorns to be minted in 2019. Lightspeed went public in March and already has a $3.5-billion market cap. U.S. private equity firms have made a number of megadeals for Canadian tech companies this year. In May, Toronto-based cloud company Cority was purchased for between $500 million and $750 million by San Francisco-based investor Thoma Bravo, and Toronto-based fintech Vena Solutions secured a $115-million January investment in a round led by U.S. firms JMI Equity and Centana Growth Partners.