https://techmonitor.ai/technology/ai-and-automation/canva-leonardo-ai-deal

Graphic design platform Canva has announced its acquisition of generative artificial intelligence (AI) content and research startup Leonardo.ai. The financial terms of the deal were not revealed. A startup specialising in the use of generative AI to create and edit imagery, all 120 of Leonardo.ai's employees will be joining Canva. By acquiring the startup, the latter firm is expected to burnish its AI credentials as it competes against rivals like Adobe and Figma.

“With Leonardo.Ai’s incredible foundational model, and team of 120 high-calibre researchers, engineers, and designers, this acquisition bolsters our ability to supercharge our growing suite of AI products while investing in continued research and innovation to unlock the future of visual AI,” said Canva's co-founder and chief product officer Cameron Adams.