Canva's Acquisition of Affinity Suite in Bid to Challenge Adobe

By
Miguel Angel Delgado
1 min read

Canva Inc. has made a significant strategic move by acquiring the Affinity suite of creative software, popular among Mac users, in a bid to challenge Adobe Inc. This represents Canva's largest acquisition to date and signifies a substantial step in its efforts to expand its range of professional tools. The deal, comprising a mix of cash and stock, is valued at 'several hundred million pounds,' as revealed by Canva's Co-founder and Chief Operating Officer, Cliff Obrecht. Notably, this acquisition marks a crucial development for Australia's most valuable startup, particularly following its recent share sale valuing the company at $26 billion. Canva's ambition to compete with industry giant Adobe Inc. is clearly demonstrated through this extensive investment.

You May Also Like

This article is submitted by our user under the News Submission Rules and Guidelines.The cover photo is computer generated art for illustrative purposes only; not indicative of factual content.

Subscribe to our Newsletter

Get the latest in enterprise business and tech with exclusive peeks at our new offerings