Adobe has launched a public beta of its Generate Video app, part of the Firefly Video model, which users can try for free on a dedicated website. Login is required, and there is still a waitlist for unfettered access, but the Web app facilitates up to five seconds of video generation using text and image prompts. It can turn 2D pictures into 3D animation and is also capable of producing video with dynamic text.  The company has also added an AI feature called “Extend Video” to Premiere Pro to lengthen existing footage by two seconds. The news has the media lauding Adobe for beating OpenAI’s Sora and Google’s Veo to market. Continue reading Adobe Promos AI in Premiere Pro, ‘Generate Video’ and More

In the wake of increasing pressure from European regulators, Adobe and Figma announced they are terminating their proposed merger agreement. California-based Adobe had planned to purchase Figma’s cloud-based product design platform for $20 billion, a proposal that was 15 months into the regulatory review process. However, the two companies eventually agreed there was no possibility of obtaining regulatory approval from the European Commission and the UK Competition and Markets Authority (CMA). According to a regulatory filing, the decision to cancel the deal will require Adobe to pay Figma a reverse termination fee of $1 billion in cash. Continue reading Adobe and Figma Call Off Their Proposed $20 Billion Merger

Adobe announced it plans to purchase rival digital design suite Figma for $20 billion in cash and stock. The news was disclosed as part of its Q3 earnings report, which saw revenue of $4.43 billion, exceeding analysts’ expectations. Despite the healthy cashflow, Adobe says it may have to finance part of the deal, which will have to clear regulatory hurdles in a very pro-competition environment. Founded in 2011, Figma released its first product in 2015, leveraging the WebGL API to create real-time collaborative tools for web-based design teams “working together beyond company walls.” Figma lists Airbnb, Conde Nast and Github among its users. Continue reading Adobe Will Purchase Digital Design Rival Figma for $20 Billion