Canva embarks on buying spree as AI wave batters rivals

Canva acquired Australian technology companies Simtheory and Ortto as part of its strategy to evolve into an AI-driven work system. Co-founder Cliff Obrecht stated the acquisitions would enable faster rollout of AI tools, allowing Canva to compete with Microsoft and Google in the productivity software space. Canva continues to avoid layoffs amid a turbulent market for software firms.

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Summary by Glance · Original reporting by SMH