Adobe(ADBE.US) Abandons Acquisition of AI Video Startup Synthesia with an Offer of Up to $3 Billion

Stock News
10/24

According to informed sources, Adobe(ADBE.US) recently explored the possibility of acquiring AI video startup Synthesia for approximately $3 billion. However, the deal fell through due to discrepancies in pricing between the two parties. Synthesia, headquartered in London, is a company that develops AI software capable of generating virtual avatars of individuals in video format. The negotiations followed Adobe's investment of $100 million in Synthesia earlier this April. The $3 billion offer exceeds the $2.1 billion valuation the AI startup achieved in a funding round earlier this January. Additionally, it was reported that Synthesia had previously discussed a potential sale with Meta Platforms(META.US) earlier this year, but those negotiations did not progress. Currently, Synthesia is planning to raise more venture capital by the end of the year, with its valuation expected to exceed the $3 billion discussed during negotiations with Adobe.

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