Corel Corporation (from the abbreviation "Cowpland Research Laboratory") is a Canadian software company headquartered in Ottawa, Ontario, specializing in graphics processing. It is known for producing software titles such as CorelDRAW, and for acquiring PaintShop Pro, Video Studio and WordPerfect. Corel was founded by Michael Cowpland in 1985, as a research laboratory. The company had great success early in the high-tech boom of the 1990s with the product CorelDRAW, and became, for a time, the biggest software company in Canada. In 1996 it acquired Novell WordPerfect and started competing with the thought of being "Pepsi to Microsofts Coke" as Microsoft Word was the top-used word processing software at the time. Corel was in a difficult position as Microsoft pushed pre-loaded copies of its software onto new computers. This mainly consisted of Microsoft Works office applications, but a variant called Works Suite also bundled the Microsoft Word software. The company held the naming rights to the home arena for the NHLs Ottawa Senators from February 1996 until January 2006 as the "Corel Centre", a venue currently known as the Canadian Tire Centre.