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Adobe to purchase design group Figma for $20bn


Adobe has agreed to purchase business-to-business design firm Figma for $20bn in money and inventory, because the software program large appears to be like to bolster its artistic instruments providing.

San Francisco-based Figma, based by Dylan Field and Evan Wallace in 2012, permits software program builders and designers to collaborate remotely and design every part from slides for shows to person interfaces on cellular apps.

The firm raised $200mn in June final yr at a $10bn valuation, with funding from Andreessen Horowitz and Sequoia Capital.

Adobe, whose inventory is down greater than 40 per cent this yr, is seeking to faucet into the thousands and thousands of shoppers utilizing Figma, which loved a increase through the pandemic as workers labored remotely. Its purchasers embody Twitter, News UK, Google and Netflix.

“Adobe’s greatness has been rooted in our potential to create new classes and ship cutting-edge applied sciences by way of natural innovation and inorganic acquisitions,” mentioned Shantanu Narayen, Adobe chair and chief government. “The mixture of Adobe and Figma is transformational and can speed up our imaginative and prescient for collaborative creativity.”

Figma expects so as to add about $200mn in web new annual recurring income this yr, surpassing $400mn in 2022, it mentioned.

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