The announcement was made at the Cannes Lions International Festival of Creativity.

Software company Canva has announced plans to acquire MagicBrief, an Australian AI-powered creative intelligence platform, marking a move into the analytics market. The announcement was made on Tuesday at the Cannes Lions International Festival of Creativity.

MagicBrief's technology, which analyses content performance and generates strategic insights, will be integrated into Canva's 'Visual Suite' to support data-informed content development. The platform is currently used by global brands and creative teams.

The company has been deepening its capabilities in artificial intelligence, incorporating it into photo editing, coding and chatbots. Canva now serves over 240 million monthly users and reports US$3 billion in annualised revenue.

MagicBrief will operate independently during the transition, with full integration planned over time.