The IT business Freepik, situated in Málaga, Spain, offers a design platform that includes generative AI tools and audio-visual resources. Magnific, situated in Murcia, Spain, is a provider of AI picture tools in the market.
The deal’s total value was not made public.
With the purchase, Freepik’s generative AI toolset is strengthened and expanded, giving creators even more access to state-of-the-art resources.
About Freepik
Freepik, led by CEO Joaquín Cuenca Abela, offers generative AI tools and an audio-visual resource portal for designers. Its features include presentation templates, images, and video in addition to design materials like mockups and icons. The parent business of Freepik is responsible for the creative tools that empower over 100 million people globally each month, including Flaticon, Slidesgo, Videvo, Iconfinder, Wepik, and EyeEm.
About Magnific
Magnific, an AI tool that was introduced five months ago in Murcia, Spain, gives users the ability to take charge by adding new elements to photographs while also improving their quality and resolution. Magnific offers instantaneous picture enhancement, streamlining user operations. Additionally, users may now alter any image by adjusting the degree of style transfer and structural integrity using the new Style Transfer feature.
The organization boasts over 50,000 registered contributors, 600 unique remote designers, and 550 staff. With the acquisition of EyeEm (Germany) last year, Videvo (UK), Original Mockups (Colombia), and Iconfinder (Denmark) in 2022, this strategic transaction is Freepik’s largest to yet.
