Adobe is acquiring design platform Figma for $20 billion
Adobe has announced that it is acquiring collaborative design platform Figma for around $20 billion. This deal is a mix of cash and stock. The deal is expected to close sometime in 2023 after receiving approval from regulators and shareholders.
Figma is a web-based collaborative design platform used b thousands of designers and developers. With access to Adobe’s technology, expertise, and resources, Figma plans to accelerate its growth. So, we can expect more creative tools in Figma in the coming months.
Figma co-founder and chief Dylan Field will still lead the company but will now report to Adobe’s digital media lead David Wadhwani. Adobe confirmed that Figma will still remain an autonomous company and Adobe has no plans to revamp the platform or change the pricing. The platform will still remain free for education users.
“Together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design, and inspire global communities of creators, designers, and developers. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry,” said Adobe in a press release.
Adobe has yet to provide its long-term vision for this acquisition. Adobe executives will talk about this deal during a live conference scheduled to begin at 7:00 a.m. Pacific Time.