Transaction significantly broadens the scope of Canva’s Magic Studio generative AI Suite
TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK) is pleased to announce that Canva, Inc. (“Canva”), an existing portfolio holding, has acquired Leonardo.Ai (“Leonardo”), a generative AI content and research startup.
Leonardo’s platform combines ease of use and power to produce stunning images ranging from hyper-realistic photos to character portraits, anime, painterly styles, and more. Its AI video generation tool also brings any concept to life, from animated illustrations to storytelling sequences. To date, over one billion images have been created using Leonardo’s tools/platform, by nineteen million registered users worldwide.
As part of the transaction, Leonardo’s technology will integrate into Canva’s Magic Studio generative AI suite, making existing Magic Studio tools more powerful and opening the door to new generative AI capabilities powered by Leonardo’s models. Leonardo will continue to run independently of Canva with a focus on rapid innovation, research, and development, however, it will benefit considerably from the backing of Canva’s financial resources, expertise, and licensed content.
“This acquisition integrates Leonardo’s world-class technology into Canva’s Magic Studio, which will supercharge its capabilities,” said Jeff Parks, CEO of Stack Capital. “Users worldwide, including design industry professionals, will be able to create compelling and innovative visual communications, faster. This marks another key step forward for Canva, making its platform even more attractive to its global community of users.”
To access a copy of the Canva announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt, and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
brian@stackcapitalgroup.com
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/20fbfceb-6c5f-4e19-85e5-f088a48bd7d1
