Canva's Strategic Acquisition Spree Targets Professional Design Market

Canva, Australia's most valuable startup, has acquired the Affinity suite of creative software in a deal valued at "several hundred million pounds," marking its biggest acquisition yet as it aims to compete with Adobe. The acquisition includes the entire 90-person team of Serif, the startup behind Affinity's portfolio of photo-editing, publishing, and illustration software. Canva, known for its easy-to-use design products, has surpassed $2.1 billion in annualized revenue and has over 175 million users, with plans to double down on organic growth in Europe.