- Freepik acquires Magnific, an AI image upscaler and enhancer.
- Magnific, founded in Spain, offers innovative tools for image enhancement through AI.
- Acquisition aligns with Freepik’s AI ambitions and global expansion strategy.
- Magnific boasts over 725,000 registered users since its launch.
- Co-founders of Magnific to join Freepik’s AI innovation team post-acquisition.
Main AI News:
In a strategic move that marks Freepik’s largest acquisition to date, the design platform has finalized the purchase of Magnific, a pioneering AI image upscaler, enhancer, and transformer tool based in Spain. This acquisition follows Freepik’s recent expansion efforts, including previous acquisitions of EyeEm, Videvo, Original Mockups, and Iconfinder.
Magnific, founded just five months ago in Murcia, Spain, has quickly garnered attention for its groundbreaking approach to image enhancement through AI technology. With a focus on “reimagined upscaling,” Magnific has attracted over 725,000 registered users since its launch, signaling strong demand for its innovative tools.
The acquisition of Magnific aligns with Freepik’s broader AI ambitions, positioning the company as a leader in AI-driven design solutions. By integrating Magnific’s expertise and technology into its platform, Freepik aims to offer users enhanced capabilities for image manipulation and creative expression.
Joaquín Cuenca Abela, CEO and co-founder of Freepik, emphasized the strategic importance of the acquisition, stating, “Magnific’s AI will complement our suite of AI tools, while the expertise of its founders will strengthen our AI offering. This acquisition is a pivotal step in Freepik’s journey towards global expansion.”
Javi López and Emilio Nicolás, co-founders of Magnific, expressed enthusiasm about joining forces with Freepik. López stated, “Finding a partner like Freepik, who shares our values and vision, accelerates our journey towards realizing our goals.” Nicolás echoed this sentiment, highlighting the synergy between the two companies and their shared commitment to advancing AI innovation.
Under the terms of the acquisition, Magnific will operate as an independent subsidiary of Freepik, with López and Nicolás continuing to lead the company’s AI innovation efforts. Both co-founders will also join Freepik’s AI innovation team, further strengthening the collaboration between the two companies.
The acquisition of Magnific represents a significant milestone for Freepik as it positions itself at the forefront of AI-driven design technology. With this strategic move, Freepik aims to empower users to unlock the full potential of their creative ideas through cutting-edge AI solutions.
Conclusion:
The acquisition of Magnific by Freepik signifies a strategic move towards advancing AI innovation in design. By integrating Magnific’s technology and expertise, Freepik aims to strengthen its position in the market and empower users with enhanced creative capabilities. This acquisition underscores the growing importance of AI-driven solutions in the design industry, highlighting a shift towards more sophisticated and efficient tools for creative expression.
