Adobe has reportedly acquired Rephrase.ai, a Bengaluru-based AI-powered video generation platform. With the new acquisition, Adobe aims to integrate Rephrase’s technology and Generative AI technology into its own video editing platform, Creative Cloud and increase the range of its services. Check out more details below.
Rephrase.ai
Rephrase.ai allows users to make professional quality videos with its text-to-video generation capabilities. Rephrase.ai allows users to choose from various pre-designed templates to make product demos, explainers, and social media videos. Rephrase.ai was founded by three IIT graduates, Nisheeth Lahoti, Ashray Malhotra and Shivam Mangla.
What Will Happen to Employees?
According to the deal, Rephrase.ai employees will join Adobe. It is also reported that all the investors of Rephrase.ai investors will get a complete cash exit as Adobe plans to pay them in cash and Adobe Stock.
Importance of the Deal
Adobe’s acquisition of Rephrase.ai marks a positive development for Adobe as it seeks to maintain its dominating position in the creative software industry. Adobe will be able to offer a wide range of AI features in its video-editing platform, Creative Cloud.
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