Canva Acquires Affinity Design Adding AI Tools to Portfolio as It Rivals Adobe
Mar 29, 2024 - bloomberg.com
Canva Inc. has secured its largest acquisition to date by purchasing the Affinity suite of creative software, a popular choice among Mac users. The deal, a combination of cash and stock, is worth several hundred million pounds, according to Canva's co-founder and COO, Cliff Obrecht.
This acquisition represents a significant step for Canva, Australia's most valuable startup currently valued at $26 billion, in its bid to compete with Adobe Inc. It also marks a milestone in the expansion of Canva's range of professional tools.
Key takeaways:
Canva Inc. has acquired the Affinity suite of creative software, marking its biggest acquisition to date.
The acquisition is a strategic move to compete with Adobe Inc.
The deal, a mix of cash and stock, is valued at several hundred million pounds.
This acquisition is a significant milestone in the expansion of Canva's range of professional tools.
