Canva, an Australian visual communication platform, announced plans to acquire Leonardo.AI, a generative AI content company.

Canva will integrate Leonardo's technology into its Magic Studio products while maintaining Leonardo's standalone platform. This acquisition enhances Canva’s vision to build a suite of visual AI tools.

Working with Leonardo's team of 120 researchers and engineers will bolster Canva’s research and development capabilities, accelerating its investment in AI innovation.

Founded in late 2022 by JJ Fiasson, Leonardo.AI has generated over one billion images and amassed 19 million registered users across various industries including advertising, design, and education.