WinZip purchased by turnaround specialist

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WinZip purchased by turnaround specialist

WinZip, which specializes in software that compresses large files for storage or mailing, has been bought by turnaround investor Vector Capital.

For years, WinZip’s eponymous utility has been one of the most popular shareware programs on the Web. More than 140 million people have downloaded the program, and it’s downloaded for free about 500,000 times a week, said Chris Nicholson, a partner at Vector.

Read the complete story. (ZDNet)