Adobe Group Acquires Design Platform Figma for $20 Billion

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According to a recent announcement, Adobe will acquire well-known design platform Figma, in a cash and stock deal worth approximately $20 billion. Early Thursday, there was speculation about a possible takeover; Soon, Adobe confirmed this in a press release. It’s major news in the design and development industries, especially considering how fierce Figma has been a fierce competition for Adobe XD products.

According to Adobe, “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 company also revealed that “the combined company will have tremendous and rapidly growing market opportunities and capabilities to create significant value for customers, shareholders and the industry.”

The Figma design platform is a company created in the collaborative effort by Dylan Field and Evan Wallace ten years ago, and this platform has recently grown to become an essential part of many companies today. Every day, thousands of Microsoft designers and engineers use Figma to create products like Office, Windows, and more. It is used so frequently at Microsoft that it puts the company’s strong collaboration with Adobe to the test.

Although Figma is web-focused, Adobe and its competitors have been finding it hard to compete with them for years now. Adobe now intends to integrate its own community with Figma, and this will likely eventually mean including Figma goods and services in the Adobe Creative Suite.

For now, Figma will not change. “We plan to continue to run Figma the way we have always run Figma – we continue to do what we believe is best for our community, culture, and business,” says Dylan Field, Figma co-founder and CEO. “Adobe is steadfastly dedicated to preserving figma independence.” Field will continue to lead Adobe as CEO and report to David Wadwani, the company’s president.

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Figma also hopes to significantly improve the design of web products by leveraging Adobe’s expertise in 3D, video, vector, image, and typeface. According to Field, the new work will create “new tools and places to enable customers to manufacture goods more quickly and easily.”

Although Adobe hasn’t officially revealed its long-term goals or objectives, we may learn more about the goals the company will host after the conference call with investors.

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