Adobe has announced that they are acquiring Figma, a popular design tool among the UI/UX community in a deal worth around $20 billion in cash and stock. After rumors and rounds of talking, Adobe officially announced the same in its press release.
Figma’s easy interface and amazing adaptability were key competitors to Adobe’s XD product line in recent times.
Adobe claimed, “The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry.”
Here is the tweet from Adobe’s official Twitter handle:
We’re excited to share our intent to acquire @Figma. Together, we will usher in a new era of collaborative creativity. Key info: https://t.co/9wDSHPhyvE pic.twitter.com/U5SduJUVvc
— Adobe (@Adobe) September 15, 2022
Figma started offering great tools on the web, which means users do not have to have great specs on their work computers or do not need any high-end rendering devices to create complex designs. Which is the exact opposite of the key competitors.
Just like Adobe, Figma as a tool will also get a lot of benefits from this deal. They might get 3D, video editing, vector design, and other image editing capabilities from this acquisition deal.
Update: 18-Dec-2023: Adobe and Figma Deal get called off.
In a blog post by the CEO of Figma, Dylan Field shared that due to regulatory pressure, the entire deal gets called off now!