By April Glover
Publication Date: 2026-04-09 00:22:00
Australian technology giant Canva has acquired two local artificial intelligence (AI) companies as the $60 billion company looks to dramatically expand its humble beginnings as a creative design tool.
Sydney-based Canva has made its Rich List its co-founders Melanie PerkinsCliff Obrecht and Cameron Adams multi-billionaires – acquired Australian AI tool Simtheory and marketing automation company Ortto for an undisclosed amount.
The deal brings Canva’s number of AI acquisitions to eight since 2024, with a total of $400 million reportedly invested in the fast-growing technology to date.
Both Simtheory and Ortto were founded by Sydney brothers Chris and Mike Sharkey, who will be joining the Canva team.
Chris Sharkey is also co-founder of the booking platform Stayz.
Obrecht, Canva’s chief operating officer, said the acquisition will transform Canva from a design tool into an “end-to-end” work system.