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Adobe acquired Figma design platform for $20 billion

Adobe acquired Figma design platform for $20 billion – Adobe announced the acquisition of design software company Figma for roughly $20 billion in cash and equity. Adobe’s stock dropped by 17%, marking the worst plunge since 2010. Dylan Field, co-founder and CEO of Figma, will continue in that position after the deal is completed. David Wadhwani, president of Adobe‘s digital media division, will serve as immediate supervisor.

  • Figma was founded in the year 2012 and makes cloud-based design software to enable real-time collaborative collaboration.
  • It squares off against Adobe’s XD software.
  • Adobe CEO: Shantanu Narayen
  • Figma co-founder and CEO: Dylan Field
  • Adobe’s Digital Media Business President: David Wadhwani

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