Adobe signs $20bn deal to acquire collaborative design platform Figma
Adobe acquisition of Figma : Computer software giant Adobe has signed a cash and stock deal worth nearly $20 billion to acquire web-first collaborative design platform Figma.
Established in 2012 by Dylan Field and Evan Wallace, Figma is a collaborative web application that enables the collaboration of people who design interactive mobile and web applications through design systems, multi-player workflows, and an ecosystem of developers.
Adobe expects to gain a large, quick-growing market opportunity and capabilities through the acquisition which will fuel significant value for shareholders, customers, as well as the industry.
Shantanu Narayen — Adobe chairman and CEO, commenting on Adobe acquisition of Figma, said: “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
Adobe acquisition of Figma. Photo courtesy of Coolcaesar/Wikipedia.org.
Adobe is hoping Figma’s web-based, multi-player capabilities to speed up the delivery of its Creative Cloud technologies on the internet in order to make the creative process more productive and reachable to more users.
Besides, Adobe will look to add its imaging, photography, 3D, illustration, video, and font technology capabilities into the collaborative design platform of Figma.
The closing of Adobe acquisition of Figma, which is likely to be next year, needs regulatory clearances and approvals and the latter’s shareholders’ approval.