U lead Systems is a Taiwanese computer software company headquartered in Neihu district in Taipei, Taiwan. It is a subsidiary of Corel. Ulead was founded on August 5, 1989 by Lotus Chen, Lewis Liaw and Way-Zen Chen. They founded Ulead with the support of Microtek after leaving Taiwan's Institute for Information Industry in order to further develop and commercialize their first true color image editing software, Photo Styler, on the Windows platform. Ulead sold Photo Styler through Aldus software as a software developer. However, Aldus merged into Adobe Systems in 1994 and Photo Styler is no longer available. Ulead then continued to develop Photo Impact 3 as its flagship image editor and sell Photo Impact by itself. Today, Photo Impact is known as a competitor of Adobe Photoshop. Ulead Systems then extended its development of multimedia software in various areas such as video editing, media management, web utility, DVD authoring and digital home. On September 17, 2001, Ulead was listed on the Taiwan Stock Exchange as On April 13, 2005, Inter Video acquired Ulead Systems for approximately $68 million. On July 9, 2006, Inter Video announced its merger with Ulead to be completed on December 28, 2006. On 28 August 2006, Corel announced that it would acquire Inter Video for about $196 million. On October 24, 2006, Ulead was unlisted on the Taiwan Stock Exchange. On December 12, 2006, Corel announced the acquisition of Inter Video and Ulead had been completed.
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