When it comes to graphic design, editing videos, or developing websites, (NASDAQ: ADBE) is the gold standard by a wide margin. The company's software suite spans a variety of creative applications, and has helped Adobe build a formidable economic moat. But as is the case with many large enterprises, competition eventually comes knocking.

An Australian-based start-up called Canva offers a multitude of services that are similar to Adobe's. In late March, Canva acquired professional visualization company Affinity for a reported $380 million as it looks to encroach on Adobe's territory in the professional design market.

Let's discuss how this deal bolsters Canva's business, and what it could mean for Adobe's growth prospects.

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Source Fool.com