Adobe Systems in official press release announced the acquisition of Figma – a company that offers online tools for the work of designers, reports The Verge.
Earlier it was reported that the parties were discussing the purchase of Figma for more than $15 billion, but the official price has increased by $5 billion.
In recent years, Figma has competed strongly with Adobe XD products.
“Together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers,” says Adobe. “The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry.”
Adobe is now planning to integrate its own community with Figma, and this will likely involve integrating Figma products and services into the Adobe Creative Suite at some point in the future. Until then, Figma will operate independently.
“We plan to continue to run Figma the way we have always run Figma — continuing to do what we believe is best for our community, our culture and our business,” explains Dylan Field, co-founder and CEO of Figma. “Adobe is deeply committed to keeping Figma operating autonomously.”
Figma also wants to use Adobe’s expertise in 3D, video, vector graphics and fonts to significantly improve product design on the web. Field says the combined company will create “new tools and spaces to enable customers to design products faster and easier.”
During the pandemic, the company saw an increase in demand due to the popularity of remote work. Their clients are Airbnb, Google, Netflix and Twitter, and their investors are venture capital companies Kleiner Perkins, Index Ventures and Greylock Partners. Meanwhile, Adobe shares have lost more than a third of their value since the start of the year, and investors are increasingly skeptical about the dominance of Adobe’s creative software. Therefore, the company is trying to come up with offers that are more convenient for consumers.