Adobe announces agreement to buy design software company Figma for roughly $20 billion. Adobe’s largest deal prior was its $4.75 billion Marketo acquisition in 2018. Figma’s CEO and co-founder Dylan Field has confirmed that he’ll stay in his position after the deal, though he’ll now report to David Wadhwani, president of Adobe’s Digital Media business. Dylan stated in a press release: “Adobe is deeply committed to keeping Figma operating autonomously.”
Adobe is said to be one of the largest and most diversified software companies in the world. Some of their products include Adobe Creative Cloud, Adobe Document Cloud, and Adobe Experience Cloud and more. Headquartered in San Jose, California, and with a diverse global population of more than 26,000 employees, Adobe is said to have achieved revenue of US$15.79 billion in fiscal 2021.
Figma is a design platform for teams who build products together. Born on the Web, Figma says it helps teams brainstorm, design, and build better products in a more collaborative manner. Whether it’s consolidating tools, simplifying workflows, or collaborating across teams and time zones, Figma states that it makes the design process faster, more efficient, and fun while keeping everyone on the same page.
