Adobe announced this morning that it has entered into an agreement to acquire Figma, a popular collaborative design tool. Adobe is spending $20 billion in cash and stock to acquire the app, which is available on all platforms.
“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 said in a press release.
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After being acquired by Adobe, Figma will be able to leverage Adobe’s technology to improve the platform’s imaging, illustration, and 3D capabilities. In a separate announcement, Dylan Field, Figma’s co-founder and CEO said that nothing should change for Figma users.
“We plan to continue to run Figma the way we have always run Figma — continuing to do what we believe is best for our community, our culture and our business,” the exec said.
Adobe expects the acquisition to close in 2023 once it gets through all regulatory clearances. Until then, Dylan Field will remain CEO of Figma and report to David Wadhwani, the president of Adobe’s Digital Media business.