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Adobe acquires collaborative design platform Figma for $20 billion

2022-09-15 17:16 by
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Adobe has entered into a definitive merger agreement to acquire Figma, a major web-first collaborative design platform, for approximately $20 billion in cash and stock.

Figma is a web-based design platform that is used heavily by artists and designers throughout several creative industries. One of the main benefits of Figma is that it allows for seamless collaboration through the web. That capability has become increasingly important as people shift to hybrid and remote work.

The deal will give Adobe ownership of a company whose online collaborative platform for designs and brainstorming is used by firms ranging from Zoom Video Communications to AirBnB and Coinbase.

The companies said that Figma's web-based, multi-player capabilities will accelerate the delivery of Adobe's creative cloud technologies on the web, making the creative process more productive and accessible to more people.

The two firms expect the purchase to close sometime in 2023 if it receives approval from regulators and shareholders. Figma co-founder and chief Dylan Field will continue to lead his company if and when the takeover finalizes, but will report to Adobe's digital media lead David Wadhwani.

Read more -here-


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