Canva to Buy AI Startup in Year's Second Deal to Catch Adobe.

Canva Inc., a creative software developer, is acquiring image generation startup Leonardo.ai in its second acquisition this year. The deal allows Canva to integrate Leonardo.ai's video and image generation models into its own products. Canva, valued at $26 billion, is competing with Adobe Inc. and hopes that the acquisition will help attract Adobe's enterprise customers and drive revenue growth. Canva has previously acquired eight companies, including Affinity, Kaleido.ai, Pexels, and Pixabay. [Extracted from the article]