E+H has advised Australian graphic design platform Canva on the acquisition of all of the shares of Austrian visual AI startup Kaleido AI GmbH. KPMG Law advised Kaleido AI and its founders on the deal.
Financial details were not disclosed.
According to E+H, Kaleido AI has succeeded in developing an AI-based "Unscreen" product, which the firm says could become a “game-changer" in the film and television industry. According to the firm, "using a special AI algorithm, users can remove the background from images and videos automatically with unprecedented precision and speed.”
E+H’s team included Partners Philipp Nidal Karaman, Jana Eichmeyer, Judith Feldner, and Helmut Liebel, Attorney Karolin Andreewitch, and Associates Christian Cacic, Michael Lins, William Redl, Michael Staudinger, and Martin Zankl.
KPMG Law's team included Partner Wendelin Ettmayer, Counsels Karin Bruchbacher and Julia Kusznier, Associate Thomas Androsch, and Junior Associate Pablo Essenther.