HomeNews & updatesAdobe to purchase Figma for $20 billion - Yahoo Finance

Adobe to purchase Figma for $20 billion – Yahoo Finance

Adobe will acquire Figma in a deal worth approximately $20 billion.
Figma is a web-based design program that allows artists to collaborate online.
Figma will continue to run autonomously after the acquisition.
Today, Adobe announced an agreement to purchase Figma for approximately $20 billion. The deal is expected to close in 2023, though it is subject to regulatory clearances. After the deal closes, Figma’s co-founder and CEO Dylan Field will remain as the leader of the Figma team. As the companies wait for the deal to close, they’ll run independently.
Figma is a web-based design platform that is used heavily by artists and designers throughout several creative industries. One of the main benefits of Figma is that it allows for seamless collaboration through the web. That capability has become increasingly important as people shift to hybrid and remote work.
Figma’s website touts many big-name companies as clients, including Zoom, Slack, Twitter, and Dropbox.
Even if you aren’t a designer or artist, you may have heard of Figma if you follow Microsoft news. When Microsoft open sourced over 1,500 emoji, it uploaded them to both GitHub and Figma. The Surface Duo design kit was also shared on Figma by Microsoft.
Figma directly competes with Adobe XD. Initial responses on the FigmaDesign subreddit have been negative.
When Figma’s Field announced the news, he emphasized that Figma will continue to run autonomously:
“Adobe is deeply committed to keeping Figma operating autonomously and I will continue to serve as CEO, reporting to David Wadhwani. David is someone I’ve known for a few years now and we have a strong relationship of mutual respect; I’m very excited for us to collaborate with him on how to continue growing Figma’s business. The entire Figma team will report to me. 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.”
Scott Belsky, Adobe CPO, echoed similar sentiments:
“Figma will operate w/ autonomy, continuing to work their magic, no plans to change prices, and will also continue to be free for education. we’re eager to preserve what’s great, and tackle some of the new possibilities together.”
Adobe will share more details about the deal in an investor conference call at 7 AM PT (10 AM ET) today, September 15, 2022.
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