Freepik, a Málaga, Spain-based tech company providing a design platform with audio-visual resources and generative AI tools, acquired Magnific, a Murcia, Spain-based AI image tool provider in the market.
The amount of the deal was not disclosed.
The acquisition strengthens Freepik’s AI toolkit, expanding its generative AI suite to further empower creators with cutting-edge and innovative tools.
Launched five months ago in Murcia, Spain, Magnific provides an AI tool that enhances the quality and resolution of images but also allows users to take control by creating new details. Magnific improves workflows for users, with images that can be enhanced in seconds. Furthermore, with the new Style Transfer, users can now transform any image, controlling the amount of style transferred and the structural integrity.
Led by CEO Joaquín Cuenca Abela, Freepik is a provider of a design platform with audio-visual resources and generative AI tools. Its resources include photography, video, design assets like icons and mockups, plus presentation templates. Freepik is the parent company of Flaticon, Slidesgo, Videvo, Iconfinder, Wepik, and EyeEm – design tools that empower more than 100 million monthly users worldwide.
The company has 550 employees, 600 exclusive remote designers, and over 50,000 registered contributors. The strategic acquisition is Freepik’s biggest to date – it acquired EyeEm (Germany) last year, and Videvo (UK), Original Mockups (Colombia), and Iconfinder (Denmark) in 2022.
FinSMEs
06/05/2024