Adobe Acquires Design Software Company Figma for $20 Billion | Company News

New Delhi: Software giant Adobe announced on Thursday that it will acquire design software company Figma for about $20 billion in a cash and stock deal.

Founded by Dylan Field and Evan Wallace in 2012, Figma pioneered product design on the web.

The combination of Adobe and Figma will usher in a new era of collaborative creativity.

“Adobe’s greatness is built on our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” said Shantanu Narayen, president and CEO of Adobe.

“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity,” he added.

Figma has a total addressable market of $16.5 billion by 2025.

The company is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR at the 2022 exit.

“With Adobe’s incredible innovation and expertise, especially in 3D, video, vectors, imagery, and fonts, we can further reinvent end-to-end product design. end-to-end in the browser, while creating new tools and spaces to enable customers to design products faster and easier,” said Dylan Field, co-founder and CEO of Figma.

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Karen J. Nelson