14 DAY TRIAL // Adobe has recently announced that it entered a deal with Figma to purchase the company for no more, no less than $20 billion.
Figma is one of the largest web-design platforms with a special focus on seamless collaboration through the web, and oddly enough, it’s one of the top rivals to Adobe XD.
In other words, Adobe is buying one of its rivals, so while the deal is waiting for regulatory clearances, it’ll certainly be interesting to see if it ends up hitting any roadblocks or not.
“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. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry,” Adobe said in an announcement this week.
On the other hand, while the deal is waiting to go through, Figma will continue to operate independently, with the leadership team to remain in charge of the company.
Most likely, however, Figma’s offering will be integrated into the Adobe product portfolio when the transaction is closed, so it’s no surprise that so many people are disappointed to see the company being purchased by one of the top rivals in the industry.
“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,” Adobe explained.
Needless to say, the transaction is expected to close in 2023, so we’ll probably hear more about the progress it makes for regulatory clearance in the coming months. The approval of Figma’s stockholders is also a closing condition for the deal.