Photoshop maker Adobe has agreed to pay $20 billion to acquire design software Figma
Adobe has committed to acquiring Figma, a leading web-first collaborative design platform, for about $20 billion in cash and stock.
This acquisition follows on the heels of two others: the work management platform Workfront in 2020 and the cloud-based video collaboration platform Frame.io(opens in new tab) in 2021, and is part of Adobe’s ongoing effort to expand its tools for creative collaboration.
Adobe CEO and chairman Shantanu Narayen once stated, “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions.” As their CEOs put it, “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
Figma, created by Dylan Field and Evan Wallace, was the first web-based application for designing products. Multi-user workflows, advanced design systems, and a robust, expandable developer environment are just some of the features already available, the firms stated.
Adobe stated in its announcement that the merger would allow the combined firm to power the future of work in an era where more people are working remotely or in hybrid work environments.
It was also emphasised that the web-based, collaborative nature of Figma would hasten the rollout of Adobe’s Creative Cloud technologies, thus making the creative process more accessible to a wider audience.
Further, the businesses claim that the integration of Adobe’s imaging, photography, illustration, video, 3D, and font technology into the Figma platform will help customers at every stage of the product design process, from designers to product managers to developers.
Adobe’s Digital Media business president David Wadhwani praised Figma, calling it a “phenomenal” web-based platform for product design. To further our shared goal of reimagining the future of creativity and productivity, we are excited to join forces with their amazing team and thriving community.
Dylan Field, co-founder and CEO of Figma, remarked that “with Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging, and fonts, we can further reimagine end-to-end product design in the browser” by creating “new tools and spaces” to enable customers to design products more quickly and easily.
