Adobe to acquire design startup Figma for almost $20 billion

Adobe to acquire design startup Figma for almost $20 billion

Adobe entered into a definitive merger agreement to acquire Figma, a web-first collaborative design platform, for approximately $20 billion in cash and stock.

Figma was founded by Dylan Field and Evan Wallace in 2012 to pioneer product design on the web. It offers online design collaboration tools for designers and creatives.

“When we started Figma, our stated vision was to “eliminate the gap between imagination and reality.” I believe we can reach this goal substantially faster through our plan to join forces with Adobe and leverage their legendary team plus decades of expertise,” Field said in a blog post announcing the acquisition.

Upon the closing of the transaction, Dylan Field, Figma’s co-founder and CEO, will continue to lead the Figma team, reporting to David Wadhwani, president of Adobe’s Digital Media business. Until the transaction closes, each company will continue to operate independently.

Also read: Expedition Investments acquires 33% of Domty for EGP 511.5 million

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.