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Adobe announces acquisition of online design startup Figma for about $20 billion

  • linda
  • 2022-09-16 02:56:21
  • 189 read
  Financial Associated Press, September 15th, Wall Street bears are targeting large technology stocks in the U.S....

  Adobe announced today that it has signed a definitive acquisition agreement with start-up Figma to acquire Figma, a developer of "online", for about $20 billion in cash and stock. Design Collaboration Tools" start-up.

  "Adobe's mission is to change the world through digital experiences," Adobe said in a statement. "Figma's mission is to help teams collaborate visually and make design accessible to all. Adobe's integration with Figma will reimagine creativity. and productivity, accelerating creativity for the web, advancing product design, and inspiring a global community of creators, designers and developers. The combined company will create greater value for customers, shareholders and the industry.”

  According to the agreement, about half of the acquisition amount of about $20 billion will be in cash and half in stock. Additionally, approximately 6 million additional restricted stock units (RSUs) will be awarded to Figma's chief executive officer (CEO) and employees.

  Adobe expects the deal to close in 2023. Following the transaction, Figma co-founder and CEO Dylan Field will continue to lead the Figma team, reporting to David Wadhwani, president of Adobe's digital media business. The two companies will continue to operate independently until the transaction closes.

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