Adobe acquires interface design tool Figma for about $20 billion
Dylan Field, co-founder and CEO of Figma, announced that the company has reached an agreement to be acquired by Adobe. Adobe's acquisition of Figma will cost about $20 billion and is expected to close on Thursday, according to sources.
Once completed, the Figma deal will be Adobe's largest acquisition to date. Half of the $20 billion will be paid in equity and the other half in cash, the people said. Dylan Field will continue as CEO, now reporting to David Wadhwani, executive vice president and chief commercial officer for Adobe's digital media business.
Dylan Field, speaking about the acquisition in an official blog post, said the partnership with Adobe will benefit both users and the Figma platform. Field further believes that Figma will accelerate growth by combining Adobe's expertise in imaging, photography, illustration, video, 3D and typography technologies. The Figma CEO also revealed that the platform will operate automatically. With the help of Adobe's expertise, Figma promises to expand into new territories over time, while continuing to work on making Figma Design, FigJam, and the Figma community platform even better.
Recognizing the world's current unpredictable and inflationary environment, the Figma CEO said the company currently has no plans to increase the pricing of its products. However, he did not rule out the possibility of future price increases. Figma's educational products will continue to be free.
"Like many of you, I grew up with Adobe software and it has been a key part of my personal creative journey. It has been a rare opportunity and a privilege to be able to help Adobe build the next generation of creative tools ," Field said.