Adobe Announces To Buy Design Company Figma In A Deal Worth $20 Billion

Adobe-To-Buy-Online-Design-Startup-Figma-In-$20-Billion-Software-Deal

Highlights:

  • The acquisition is in line with Adobe’s attempts to broaden its product portfolio.
  • Photoshop and After Effects are developed by Adobe.
  • Companies like Zoom Video Communications and AirBnB use Figma.

According to reports, Adobe is finalising a deal to buy US-based startup Figma, which creates online design collaboration tools. According to reports, the deal might be completed for roughly $20 billion as Adobe seeks to diversify its portfolio of platforms that are focused on collaboration and suited for the hybrid work era. The leading software company has been placing more and more emphasis on entering the market for collaboration tools. Figma has also disclosed that Adobe will retain Figma operating autonomously. The current CEO of Figma, Dylan Field, will continue to serve at the same position.

In one of the most recent acquisition deals, Adobe is reportedly finalising a deal to buy the startup Figma, which creates online design collaboration tools. Figma might be purchased for roughly $20 billion, according to a recent Reuters report. As was already mentioned, the acquisition is line with Adobe’s attempts to expand its choice of platforms that are focused on collaboration and geared for the hybrid work era.

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Photoshop and After Effects are two of Adobe’s most well-known graphics and image-editing tools. Recently, the US company has been expanding its presence in the market for collaboration tools.

Dylan Field and Evan Wallace co-founded the San Francisco-based company Figma roughly ten years ago. The startup introduced browser-based software design tools that let software designers work in real-time rather than going through the occasionally clumsy process of saving and sharing their work with colleagues via several disparate apps. The company’s last investment round, which occurred almost a year ago, valued it at $10 billion. Venture capital firms Kleiner Perkins, Index Ventures, and Greylock Partners are some of Figma’s investors.

Companies like Zoom Video Communications, AirBnB, and Coinbase currently use the online collaborative platform for designs and brainstorming developed by Figma.

The CEO of Figma at the moment, Dylan Field, said in a blog post that he would remain in his position.

About The Author

Azeem Ali
Azeem has been a professional player and has covered many games online. He has been working as a technical writer since the past 7 years and has written articles on many domains in technology including mobile Apps, Websites, Operating Systems and Softwares throughout his career. He is a B. Tech Graduate and love to spend his time on the internet researching for new thing when not working.View More Posts