Adobe announced the acquisition of Figma, a popular design platform, for around $20 billion in cash and equity. After speculations about a prospective purchase appeared early Thursday, Adobe confirmed it in a press statement issued soon thereafter. It’s major news in the design and development industry, especially because Figma has been fiercely vying with Adobe’s XD products in recent years.
Dylan Field and Evan Wallace established Figma ten years ago, and the collaborative design platform has been critical for many firms in recent years. Every day, thousands of Microsoft designers and engineers use Figma to create Office, Windows, and other products. It is so widely used at Microsoft that it has put the company’s relationship with Adobe to the test, a tight alliance that will only get stronger today.
Figma is all about the web, something Adobe and other competitors have struggled to compete with. Adobe now intends to merge its own community with Figma, which would most likely include incorporating Figma goods and services into Adobe Creative Suite at some time in the future.
Figma also intends to use Adobe’s experience in 3D, video, vector, image, and typefaces to significantly enhance online product design. According to Field, the merged business would provide “new tools and venues to enable clients to develop things quicker and more simply.”
Adobe hasn’t yet defined its long-term vision or objectives, but the business is hosting a conference call with investors this morning at 7 a.m. PT / 10 a.m. ET, so we may learn more about Adobe’s ambitions later today.
