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Canva has revealed plans to acquire AI startup Leonardo.Ai for an undisclosed amount. The acquisition aims to strengthen Canva’s suite of visual AI tools, which has become a key part of its development strategy since releasing its Magic Studio platform in 2023.
While the companies are remaining tight-lipped on the deal’s price tag, it does follow Canva’s $1 billion acquisition of design software company Serif. Based in the UK, the company’s Affinity product suite is a direct competitor of Adobe’s toolset.
Leonardo.Ai co-founder and CEO JJ Fiasson confirmed to SmartCompany on Tuesday that the full Leonardo team will join Canva, but will operate independently.
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