Canva announced they are acquiring artificial intelligence firm Leonardo.AI. Through this acquisition, Canva further strengthens its product offering to customers after acquiring Affinity last March. The value paid to take over Leonardo was not disclosed.
Canva simply said Leonardo's technology will be integrated into Canva Magic Studio which already offers several image editing features using AI. Since its launch in 2013, Canva has grown rapidly with over 190 million customers using their product as an alternative to Adobe products.
Adobe offers a variety of AI features through Firefly and with Leonardo's ability to generate realistic images allows Canva to give stiffer competition. A few weeks ago Affinity gave away free access to Affinity Designer, and free Affinity Publisher for six months. Both are alternatives to Photoshop and InDesign.