Design platform Figma Is To Be Acquired By Adobe For $20 Billion
- Tech News
- September 16, 2022
- No Comment
Adobe Group Acquires Design Platform Figma
According to a recent announcement, Adobe will acquire the well-known design platform Figma, in a cash and stock deal worth approximately $20 billion. Early Thursday morning, there was speculation about a possible acquisition; Soon, Adobe confirmed this in a press release. It’s big news in the design and development industries, especially considering how fierce App has been in 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 disclosed that “the combined company will have tremendous and fast-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 of Dylan Field and Evan Wallace ten years ago, and this platform has recently grown to become an essential part of many businesses today. Every day, thousands of Microsoft designers and engineers use Figma to create products like Office, Windows, and more. It’s used so often at Microsoft that it strains the company’s strong partnership with Adobe.
Although Figma is web-focused, Adobe and its competitors have struggled to compete with them for years. Adobe now intends to integrate its own community with Figma, and this will likely mean eventually including Figma products and services in the Adobe Creative Suite.
For the moment, Figma will not change. “We plan to continue running App the way we always have: We continue to do what we think is best for our community, culture, and business,” says Dylan Field, co-founder, and CEO of App. “Adobe is firmly dedicated to maintaining the independence of App.” This area will continue to lead Adobe as CEO and will report to David Wadhwani, president of the company.
App also hopes to significantly improve web product design 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 make products more quickly and easily.”
Although Adobe hasn’t officially disclosed its long-term goals or objectives, we may learn more about the goals the company will present after the investor conference call.
Read More News Updates Visit our Site InsightFello.