Tech giant Adobe has concluded the purchase of Figma in a $20 billion deal.
In a blog post in which the disclosure of this deal was made, it was disclosed therein that the $20 billion deal comprised of approximately half cash and half stock, and is expected to close next year (2023).
“Adobe is deeply committed to keeping Figma operating autonomously,” Figma co-founder and Chief Executive Officer (CEO) Dylan Field, in the blog post, wrote, adding that he will collaborate with the President of Adobe Digital Media Business, David Wadhwani, on how to continue growing Figma’s business. “The entire Figma team will report to me. 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.”
“This is a big change, especially for a platform you rely on every day,” Field added.
Understanding Figma and Adobe
BizWatch Nigeria understands that while Adobe is a behemoth in the creative industry, Figma, in the past decade pioneered product design on the web. So far, the latter has been able to amasse millions of users.
What Figma users should expect?
- While we are still in the early days of the acquisition, it has been confirmed that Figma users would start to experience some changes. Although, not negatively.
- To the excitment of Figma users, who avoid Adobe pricing, this acquisition will not see the firm introduce new pricing model.
- Amongst other things, this acquisition will see the company improve the platform by incorporating Adobe’s areas of expertise, including imaging, photography, illustration, video, 3D and font technology.
- As Figma continues to expand into new areas over time while simultaneously improving products like Figma Design, FigJam and the Figma community platform, this deal will see its users grow into new communities that bring designers and developers closer together to unlock the future of collaborative design.