EQT-backed Freepic completed the acquisition of Magnific.

EQT-backed Freepic, a producer of graphic and audiovisual resources, completed the acquisition of Magnific, a Spanish AI image upscaler. Financial terms were not disclosed. “Not only will Magnific’s AI complement our suite of AI tools, but having Javi and Emilio’s experience and vision on the team will elevate our AI offering – this is central to the future of Freepik and our global expansion,” Joaquín Cuenca Abela, Freepik CEO and co-founder.