Adobe has announced that it will buy the popular design platform Figma for about $20 billion in cash and stock. Early Thursday morning, rumors started going around about a possible acquisition. Soon after, Adobe made it official in a press release. It’s big news in the world of design and development, especially since Figma has been competing hard with Adobe’s XD products over the past few years.
Adobe says, “Together, Adobe and Figma will rethink the future of creativity and productivity, speed up creativity on the web, improve product design, and inspire creators, designers, and developers around the world.” “The combined company will have a huge market opportunity that is growing quickly and the skills to create a lot of value for customers, shareholders, and the industry as a whole.”
Dylan Field and Evan Wallace started Figma 10 years ago. The collaborative design platform has become a key part of many businesses in the last few years. Every day, Figma is used by thousands of designers and developers at Microsoft to build Office, Windows, and more. It’s used so much at Microsoft that it’s been putting a strain on the company’s close relationship with Adobe, which will only get stronger now.
Figma is all about the web, which has made it hard for Adobe and other competitors to keep up. Now, Adobe wants to combine its own community with Figma. It’s likely that this will mean putting Figma’s products and services into Adobe Creative Suite at some point in the future.
Until then, no changes will be made to Figma. Dylan Field, co-founder and CEO of Figma, says, “We plan to keep running Figma the same way we always have, which is to do what we think is best for our community, our culture, and our business.” “Adobe is very determined to keep Figma running on its own.” The field will keep his job as CEO, and he will report to David Wadhwani, who is the president of Adobe.
Figma also wants to use Adobe’s skills in 3D, video, vector graphics, imaging, and fonts to make product design on the web much better. Field says that the new company will make “new tools and spaces” that will make it easier and faster for customers to design products.
Adobe hasn’t said much about its long-term goals or plans yet, but the company is holding a conference call with investors this morning at 7 AM PT/10 AM ET, so we might find out more later today.
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