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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