In an announcement on September 15, Adobe said that it has entered into a definitive merger agreement to acquire Figma for approximately $20 billion in cash and stock.
Collaboration Between Adobe And Figma
Here, Figma is a leading web-first collaborative design platform.
The collaboration of Adobe and Figma will usher in a new era of collaborative creativity as Adobe believes in changing the world through digital experiences.
In fact, today’s digital economy runs on Adobe’s tools and platforms.
If we follow the history, the company’s innovations have touched billions of lives across the globe.
Be it revolutionizing imaging or creative expression with Photoshop or pioneering electronic documents through PDF, creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories.
When it comes to Figma, its mission is to help teams collaborate visually and make design accessible to all.
The software firm pioneered product design on the web and was founded by Dylan Field and Evan Wallace in 2012.
A Future Of Creativity and Productivity
Presently, this firm is working on the possibility for everyone who designs interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich, extensible developer ecosystem.
Its workforce is crowded with a new generation of millions of designers and developers and a loyal student following.
Together, Adobe and Figma are headed for greatness.
They will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers.
It won’t be an exaggeration to say that these two combined will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry.
Accelerate Vision For Collaborative Creativity
The chairman and CEO, Adobe, Shantanu Narayen said, “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,”.
Further adding, “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity,”.
As part of the definitive agreement, Adobe has agreed to acquire Figma for approximately $20 billion, comprising approximately half cash and half stock, subject to customary adjustments, .
Besides this, around 6 million additional restricted stock units will be granted to Figma’s CEO and employees that will vest over four years subsequent to closing.
This transaction is expected to close by 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of Figma’s stockholders.
Till this transaction closes, each company will continue to operate independently.
Notably, Figma’s co-founder and CEO, Dylan Field will continue to lead the Figma team, reporting to David Wadhwani, president of Adobe’s Digital Media business upon the closing of the transaction.
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