Merger and Acquisition
Adobe To Acquire Web-Based Design Platform, Figma in a Deal Worth $20 Billion
Figma announced it has entered into an agreement to be acquired by Adobe, the Co-Founder and CEO of Figma, Dylan Field said in a blog statement sent to Figma users.
Today, September 15, 2022, Figma announced it has entered into an agreement to be acquired by Adobe, the Co-Founder and CEO of Figma, Dylan Field said in a blog statement sent to Figma users.
Figma is an advanced web-based graphic design tool that offers next-generation collaborative work on UI/UX prototyping. It is a robust application that enables you to create unique UX designs that are user-friendly yet professional. It was founded 10 years ago by Dylan Field and Evan Wallace.
The collaborative design platform has become key for many businesses in recent years.
Investors King gathered that Adobe offered approximately $20 billion in cash and stock for the leading web-based collaborative design platform.
While Adobe is used to create, view, and annotate text among others, the combination of Adobe and Figma will usher in a new era of collaborative creativity.
According to Adobe in a press statement, “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”
“Adobe and Figma share a passion for helping individuals and teams to be more creative and productive. With Adobe’s and Figma’s extensive product portfolio, the combined company will have a rare opportunity to power the future of work by bringing together capabilities for brainstorming, sharing, creativity and collaboration and delivering these innovations to hundreds of millions of customers”, the statement added.
After the acquisition, Adobe will allow Figma to work autonomously and retain Dylan as Figma’s Chief Executive Officer (CEO). Dylan will however be reporting to David Wadhwani. David Wadhwani is the Executive Vice President and Chief Business Officer, Digital Media at Adobe Incorporated.