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Adobe Said to Close a Deal to Acquire Figma for $20 Billion: Report

Adobe Said to Close a Deal to Acquire Figma for $20 Billion: Report

Adobe has been increasingly focusing on venturing into the collaboration tools space.

Written by Jasmin Jose, Edited by Richa Sharma | Updated: 15 September 2022 19:22 IST

Adobe Said to Close a Deal to Acquire Figma for $20 Billion: Report

Adobe is nearly closing a plan to buy Figma

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Highlights

Acquisition is in line with Adobe’s efforts to expand its portfolio
Adobe houses Photoshop and After Effects
Figma is used by firms like Zoom Video Communications and AirBnB

Adobe is reportedly closing a deal to acquire Figma, a US-based startup that makes online design collaboration tools. As per reports, the deal could be closed for about $20 billion as Adobe is looking to expand its portfolio of collaboration-focused platforms geared for the hybrid-work era. The premier software firm has been increasingly focusing on venturing into the collaboration tools space. Figma has also revealed that Adobe will keep Figma operating autonomously. Dylan Field, the current CEO of Figma, will continue to serve at the same position.

In one of the latest acquisition deals, Adobe is said to be closing a plan to buy Figma, a startup making online design collaboration tools. According to a recent report by Reuters, Figma could be acquired for about $20 billion. As mentioned earlier, the acquisition is in line with Adobe's efforts to expand its portfolio of collaboration-focused platforms geared for the hybrid-work era.

Adobe houses the industry's most renowned graphics and photo-editing applications like Photoshop and After Effects. The US company has been increasingly venturing into the collaboration tools space recently.

Figma's online collaborative platform for designs and brainstorming is currently used by firms — from Zoom Video Communications to AirBnB and Coinbase.

Dylan Field, the current CEO of Figma, said in a blog post that he will continue to serve at the same position.

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