The well-known design platform Figma will be acquired by Adobe for almost $20 billion in cash and equity, according to a recent announcement. Early on Thursday, there were speculations of a possible acquisition; shortly after, Adobe confirmed it in a press release. It’s major news in the design and development industries, especially considering how fiercely Figma has recently competed with Adobe’s XD products.
The company claims that its partnership with Figma would “reimagine the future of creativity and productivity, accelerate creativity on the web, promote product design, and inspire worldwide communities of creators, designers, and developers.” “The merged firm will have the potential to produce considerable value for customers, shareholders, and the industry,” according to the statement.
The collaborative design platform Figma was created by Dylan Field and Evan Wallace ten years ago, and it has recently become essential for many companies. Every day, thousands of Microsoft designers and engineers use Figma to create products like Office, Windows, and more. It is utilized so frequently at Microsoft that it has been putting the company’s strong collaboration with Adobe to the test.
The web is Figma’s focus, and Adobe and its competitors have found it difficult to compete. Adobe now intends to merge its own community with Figma, and it’s likely that this will eventually mean including Figma’s goods and services in the Adobe Creative Suite.
For the time being, Figma won’t change. Dylan Field, co-founder and CEO of Figma, states, “We plan to continue to manage Figma the way we have always run Figma – continuing to do what we believe is best for our community, our culture, and our business.” “Adobe is steadfastly dedicated to maintaining Figma’s independence.” Field will continue to lead Adobe as CEO and report to David Wadhwani, the company’s president.
Figma also hopes to dramatically enhance web product design by utilizing Adobe’s experience in 3D, video, vector, image, and typefaces. According to Field, the new business would create “new tools and venues to empower clients to make goods more quickly and easily.”
Although Adobe hasn’t officially revealed its long-term goals or objectives, the business will host a conference call with investors this morning at 7AM PT / 10AM ET, so we might learn more about its goals then.
