Adobe set to acquire Figma for $20 billion

Adobe press release:

Today, Adobe (Nasdaq:ADBE) announced it has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion in cash and stock. The combination of Adobe and Figma will usher in a new era of collaborative creativity.

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.

Dylan Field, writing on the Figma blog, says:

Today, we’re announcing that Figma has entered into an agreement to be acquired by Adobe. This has been in the works over the past few months and I’m so excited to finally share this news with the world.

Ten years ago, Evan and I set out on a journey to make design accessible to all. Looking back, I’m proud to say we’ve made progress through introducing Figma to designers of all ages, geographies and levels of experience.

He goes on to say,

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. For example, we will have the opportunity to incorporate their expertise in imaging, photography, illustration, video, 3D and font technology to the Figma platform. Additionally, we will have the opportunity to reimagine what the best creative tools could look like within the Figma technology stack.

And clarifies that,

Adobe is deeply committed to keeping Figma operating autonomously and I will continue to serve as CEO, reporting to David Wadhwani.

Figma has gone on to become an immensely popular design tool in the last few years, and designers are noticeably disappointed about this news.

RIP to a real one https://t.co/1FNYB1XiQF

— Harshil (@harshil) September 15, 2022

Please don’t. https://t.co/AtWtHhCduF

— Anders Norén (@andersnoren) September 15, 2022

I mean, yes, they say it's gonna operate autonomously. But we all know that's not gonna last. I wonder what kind of splash screen Figma will get.

— Sindre Sorhus (@sindresorhus) September 15, 2022

Goodbye my lover
Goodbye my friend
You have been the one
You have been the one for mehttps://t.co/w4Ej8nggBV

— Kasper Marx Andersen (@KaAnDK) September 15, 2022

The Figma news is why we can't have nice things

— Collin Henderson (@syropian) September 15, 2022

To be fair, I feel like I’m seeing a lot of folks pretty stoked about this Figma news.

Though also to be fair, those folks do all work for Figma.

— Hector Simpson (@dizzyup) September 15, 2022

There’s no doubt that this is a big win for Adobe, and I’m very curious how much Figma changes going forward. My bet is that it gets worse.