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Multimedia design and software outfit, Adobe System has announced the acquisition of its rival company, Figma for $20 billion.
Adobe said it entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion in cash and stock. The combination of Adobe and Figma will usher in a new era of collaborative creativity.
According to the press release on the official site of the company, its “mission is to change the world through digital experiences. Today, the digital economy runs on Adobe’s tools and platforms, and throughout its history, the company’s innovations have touched billions of lives across the globe. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories.”
The company acquired was founded by Dylan Field and Evan Wallace in 2012, the company pioneered product design on the web.
Through its innovative engagement, Figma made it possible for everyone who designs interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich, extensible developer ecosystem with platforms such as Web application, Mobile application
Operating system: Linux, macOS, Windows, Chrome OS, Android, and iOS
“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, Adobe. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
