Allens has advised Canva on its acquisition of Leonardo.AI, one of Australia’s most successful emerging generative AI content platform providers.
The acquisition – among the first of a generative AI company in Australia – will complement Canva’s suite of visual AI and professional design tools.
A multidisciplinary tech sector team from Allens, which drew on the firm’s market-leading experts across technology, IP and M&A, collaborated closely with Canva’s in-house legal and business teams to finalise the deal.
‘This deal represents an important milestone for Australia’s tech sector, showcasing the depth of talent in the domestic start-up landscape. GenAI is no longer an abstract technology with future application, but an asset with real value today,’ said joint lead partner .
‘We thoroughly enjoyed working with Todd, Mary Anne, Nell, Morgan and the wider Canva team on this transaction.’
‘We congratulate the Canva and Leonardo.AI teams on this Australian-first transaction, which brings together two of Australia’s great startup success stories with the promise of transforming the future of work and visual communication,’ said joint lead partner .
Allens’ role on this transaction builds on its long-standing working relationship with Canva, one of the firm’s earliest Allens Accelerate clients. Allens has previously advised Canva on its acquisitions of interactive presentation start-up, Zeetings and stock photography company, Pexels.
