In an announcement timed to coincide with its quarterly earnings report, Adobe reported via press release it was going to buy the online collaborative design software company Figma.
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.
“Together, Adobe and Figma 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,” Adobe said in the press release. “The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry.”
Acquisition Improves Adobe’s Web Capabilities
Figma, which was founded in 2012, provides cloud-based design software intended to allow teams to collaborate in real-time. It competes directly with Adobe XD.
This acquisition upgrades Adobe’s web capabilities, an area in which it has struggled.
Adobe said it intends to integrate its own imaging, photography, illustration, video, 3D and font capabilities into the Figma 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,” Shantanu Narayen, Adobe’s chairman and CEO, said in the press release. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
It seems likely that Adobe will include Figma in its Creative Suite at some point in the future, though no word has been announced yet.
“There is a huge opportunity for us to accelerate the growth and innovation of the Figma platform with access to Adobe’s technology, expertise and resources in the creative space,” Figma co-founder and CEO Dylan Field said in press release from his company. “Additionally, we will have the opportunity to reimagine what the best creative tools could look like within the Figma technology stack.”
Figma Will Continue to Operate Independently for the Foreseeable Future
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.
“We plan to continue to run Figma the way we have always run Figma – continuing to do what we believe is best for our community, our culture and our business,” Field said in the release. “Adobe is deeply committed to keeping Figma operating autonomously.”
Field expressed optimism about the merger, suggesting in the future it will be identified as the point in which Figma started growing even faster.
Featured image: JHVEPhoto/Shutterstock