Adobe Inc announced via press release it was going to buy the online collaborative design startup Figma Inc. in a deal that expands its portfolio of collaboration tools.
The deal, which is reportedly worth $20 billion in cash and stock, will expand Adobe’s collaboration-focused offerings as it seeks to capture market share in the remote/hybrid work era.
This is Adobe’s biggest acquisition and the market found the deal expensive, sending shares to their steepest single-day decline since 2010.
In the short-term, Figma users can expect the platform to operate as it always has. Friends of Figma will continue to operate and it will continue to be free for educational use.
You can read more about this here: news.adobe.com/news/news-details/2022/Adobe-to-Acquire-Figma.
