Corel is to acquire graphics-software developer Micrografx in an all-stock transaction worth $32 million.

Since its corporate restructuring earlier this year, Corel has prioritised extending its graphics-software offerings for Web designers. The Micrografx acquisition will further these aims, claims the company.

Micrografx's leadership of the technical-illustration market with its Micrografx Designer 9 package was cited by Corel as being " attractive". Corel also said it will devote additional resources to Micrografx's Enterprise Process Management division, which develops software tools for graphical modelling, as well as business-process simulations.

Executives from both companies will be working together over the next few weeks on integration plans. The deal is expected to close on November 30, pending approval by Micrografx's shareholders and the regulatory authorities.