In an exciting turn of events, the team behind Photoshop Adobe System entered into a merger and acquisition deal with the Indian-based artificial intelligence company Rephrase.ai. The acquisition of Rephrase.ai aimed at enabling Adobe Systems to expand its AI capabilities.
Adobe Acquires Indian AI Firm Rephrase.ai.
News concerning the impending acquisition of Rephrase.ai was shared by the company co-founder Shivam Mangla. In his statement, the executive confirmed the imminent M&A deal will support the Adobe team to expand its AI generative initiatives.
Recently, the Adobe team has embarked on an exciting journey to leverage the power of AI to upgrade some applications. This attractive development has proven fruitful after the digital media solution provider debuted an AI-powered design creator, Adobe Firefly, which is currently undergoing beta testing.
Besides Adobe Firefly, the media company integrated AI features into Photoshop to give designers and web creators a unique experience. An announcement conveyed by Mangla demonstrated, despite the highs and lows, the Rephrase. ai team has attained significant success.
The executive confessed that Rephrase.ai’s success was driven by the strategic partnership with industry-leading firms and support from public figures. He admitted that Rephrase.ai expansion to the US market steered the firm in a direction that attracted success.
The CEO remains optimistic that the acquisition by Adobe will propel Rephrase.ai to enter a new era of generative AI. In the latter, Mr.Mangla revisited Rephrase.ai’s past achievements and applauded the exemplary work done by his team.
Adobe to Double Down its AI Operation
He was pleased to state that the AI firm has built a solid customer base with around 50,000 active users. For years, Rephrase.ai has retained existing customers by creating unique products that restore the user’s confidence.
He recognized the pivotal role of the Rephrase.ai community in supporting the company in attaining its intended purpose. Mangla anticipates the acquaisation position Rephrase.ai, at a pinnacle position to tap endless opportunities in the ever-evolving tech industry.
The acquisition came a year after Rephrase.ai generated $13.9 million in a series A funding round led by Red Ventures.
Adobe to Optimize its Operation in India
The funding round aimed to enable Rephrase.ai to support its core business in engineering, data science, and product development. The acquisition will potentially position Adobe at a considerable market position in the Indian market.
Even though the Adobe team has not confirmed the expected acquisition, it seems that the M&A will create a mutually beneficial relationship between the two companies. A few weeks ago, the Adobe team released an AI-oriented tool that allows the user to effortlessly inpaint videos and modify the appearance of images.
Despite the complexities of creating video generation tools from scratch, the Adobe team is exploring ways to develop reference work for their AI models through the Rephrase.ai acquisation.