SAN JOSE, Calif.—Adobe has entered into a definitive merger agreement to acquire Figma, a major web-first collaborative design platform, for approximately $20 billion in cash and stock.
The deal is part of Adobe’s ongoing push to expand its tools for creative collaboration and builds on previous acquisitions of the work management platform Workfront in 2020 and the 2021 deal for Frame.io, a cloud-based video collaboration platform.
“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.”
Founded by Dylan Field and Evan Wallace in 2012, Figma pioneered product design on the web. Today, it offers tools for users designing interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich, extensible developer ecosystem, the companies said.
In announcing the deal, Adobe said that Adobe’s and Figma’s expansive product portfolio will give the combined company will have a rare opportunity to power the future of work at a time when more people are working remotely or in hybrid work work conditions.
It also stressed that Figma’s web-based, multi-player capabilities will accelerate the delivery of Adobe’s Creative Cloud technologies on the web, making the creative process more productive and accessible to more people.
In addition, the combined operations will benefit users in the product design process, from designers to product managers to developers, by bringing powerful capabilities from Adobe’s imaging, photography, illustration, video, 3D and font technology into the Figma platform, the companies said.
“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,” added Dylan Field, co-founder and CEO, Figma.
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.