Adobe ventures into AI video space with Rephrase.ai acquisition: Report

Adobe has completed the acquisition of Rephrase.ai, a Bengaluru-based company renowned for its artificial intelligence (AI)-based video creation platform. An internal memo circulated within Adobe confirmed this move by the US software giant, an ET report said.

The integration of Rephrase's technology stack and AI-powered video capabilities into Adobe's Creative Cloud, their in-house video editing platform, is aimed at strengthening Adobe's offerings. Rephrase.ai, based in Bengaluru, offers a text-to-video generation platform simplifying complexities and enabling users to craft professional-grade videos.

This acquisition is anticipated to significantly enhance Adobe's capacity to furnish AI-powered video content tools to its clientele.

Sources familiar with the discussions informed ETtech, under the condition of anonymity, that the majority of Rephrase's team members will join Adobe as part of this agreement. However, the specific financial details of the deal remain undisclosed.

This acquisition marks Adobe's further interest in the generative AI and video-tooling arena. Additionally, it signifies Rephrase as the initial Indian startup to be acquired by Adobe, a company that historically focused on such acquisitions in its primary markets of the US and Europe.

Rephrase.ai, the acquired company, operates as an AI-driven synthetic video creation platform. Their cutting-edge generative AI technology specialises in producing highly personalised, professional-quality videos for businesses worldwide. They've already worked with numerous businesses and organisations in creating award-winning campaigns. Rephrase was co-founded by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla.