With a whopping $20 billion, Adobe has made one of the largest acquisitions in business history

For approximately $20 billion in cash and stock, software giant Adobe is acquiring web-based design firm Figma.

Launched in 2012, Figma is a platform that facilitates teamwork in the design of interactive mobile and online applications by providing access to multi-player workflows, complex 

design systems, and a thriving developer ecosystem.

Using Figma’s web-based, multi-player capabilities, the businesses claim they can speed up the rollout of Adobe’s creative cloud technologies over the web, making the creative process more efficient and open to more people.

We can further rethink end-to-end product design in the browser with Adobe’s incredible innovation and expertise, particularly in 3D, video, vector, image, and typefaces, and by creating new tools and places to allow users to design goods quicker and more easily. Dylan Field, co-founder and CEO of Figma, made the remark.

Until the deal is officially finalized, both businesses will continue operating separately. The Figma team, which will still be led by Field, would then report to Adobe’s Digital Media business president, David Wadhwani.

You may also like Artificial Intelligence in Digital Marketing