By now, it’s no secret that Adobe is acquiring Figma. On September 15, Figma co-founder and CEO, Dylan Field, published a blog post about recent developments and the latest agreement with Adobe. The $20 billion acquisition is by far the largest one in Adobe’s history and a crossroads for many designers and creatives.
While the new agreement should prove mutually beneficial, the Figma community has greeted the announcement with distress and concern regarding its beloved tool’s future as part of the Adobe family.
The details of the acquisition reveal little besides both companies’ optimistic outlook on their joint existence, so it’s too early to speculate on any developments.
Adobe and Figma at the Forefront of Creativity
Adobe is one of the longest-standing titans of the design industry, transforming the world through digital experiences. While it is a design-oriented desktop-first company, it evolved over time to encompass digital marketing with Adobe Experience Cloud and moved to the cloud to keep up with rapidly-evolving technology.
We have Adobe to thank for defining electronic documents through PDF and turning Photoshop into the powerhouse that it is today.
Figma, on the other hand, is less of a household name, which is to be expected of a company founded in 2016. However, the startup’s overnight rise to stardom speaks volumes about its simplicity, accessibility, and applicability.
The world’s best web-based, real-time collaboration tool has brought teams and individuals together, professionals and beginners alike, and given them the tools to create and communicate.
Visual collaboration and multiplayer capabilities allowed Figma to make product design what it is today. With its free subscription tier, a sprawling community of designers and creatives, and impressive performance, Figma is the true leader in its field.
Together, Adobe and Figma both stand to benefit from an agreement such as the one Field announced in mid-September.
With Adobe’s expertise and resources, and Figma’s aptitude for innovation and a community-centric approach, the two can redefine the future of creativity on the web, and introduce a new era of product design.
“Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” said Shantanu Narayen, chairman and CEO of Adobe.
An Inside Look at the Acquisition
So far, very little is known about the agreement, except several transaction details and some information on Figma’s leadership structure following the finalization of the acquisition.
Adobe is buying Figma for $20 billion, half cash and half stocks.
The deal is set to close in 2023, so it is still “subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of Figma’s stockholders.”
Adobe will also provide about six million additional restricted stock units to Field and other Figma employees. RSUs will vest over a period of four years after the deal is closed.