Tech giant Adobe has announced that it will spend $20 billion to buy Figma, a collaborative web application for interface design, with additional offline features enabled by desktop applications for macOS and Windows. According to the company, the acquisition is coming in the form of a deal that is half cash and half stock.
The combination of Adobe and Figma will usher in a new era of collaborative creativity, reads the company’s press statement.
“Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” said Shantanu Narayen, chairman and CEO, of Adobe. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
Both companies see the acquisition transactions as a collaborative effort, not a total takeover.
“Figma has built a phenomenal product design platform on the web,” said David Wadhwani, president of Adobe’s Digital Media business. “We look forward to partnering with their incredible team and vibrant community to accelerate our joint mission to reimagine the future of creativity and productivity.”
“With Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser, while building new tools and spaces to empower customers to design products faster and more easily,” said Dylan Field, co-founder and CEO, Figma.
The competition is on, Canva the rival of both Adode and Figma recently announced a set new of visual work suite features that will change and enhance their work.
