Adobe (NASDAQ:ADBE) explored the acquisition of AI video startup Synthesia in recent months for about $3 billion.
Synthesia, a London-based maker of AI software that generates video avatars of people, and Adobe failed to reach a deal after a disagreement over price, according to a report from The Information on Wednesday, which cited people familiar with the matter.
The talks came after Adobe invested $100 million in Synthesia in April. The $3 billion price tag exceeded the $2.1 billion valuation the AI startup was valued at in a January financing, the report said.
Synthesia also discussed a potential sale to Meta Platforms (META) earlier this year, though the talks didn’t advance, according to the report.
Synthesia is now looking to raise more venture funding before the end of the year and the value is likely to exceed the $3 billion price discussed with Adobe (NASDAQ:ADBE).