Canva Acquires Leonardo.ai to Bolster Generative AI Capabilities
July 29, 2024
Canva has acquired Sydney-based generative AI startup Leonardo.ai in a cash-and-stock deal, with all ~120 Leonardo.ai employees joining Canva. The acquisition will keep Leonardo.ai operating independently while integrating its technology into Canva’s Magic Studio to expand API offerings, model R&D and accelerate generative AI product development.
- Buyers
- Canva
- Targets
- Leonardo.ai
- Industry
- AI & Machine Learning
- Location
- New South Wales, Australia
- Transaction Type
- Buyout
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