Canva snaps up Leonardo.AI in blockbuster acquisition

canva leonardo ai

L-R: JJ Fiasson (founder and CEO of Leonardo.Ai), Cliff Obrecht (co-founder and COO of Canva), Melanie Perkins (co-founder and CEO of Canva). Source: SmartCompany.

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.

COMMENTS