Adobe announced it has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion. The combination of Adobe and Figma will usher in a new era of collaborative creativity, the two companies said in a joint press release.

We’re excited to share our intent to acquire @Figma. Together, we will usher in a new era of collaborative creativity. Key info: https://t.co/9wDSHPhyvE pic.twitter.com/U5SduJUVvc

— Adobe (@Adobe) September 15, 2022

Adobe’s mission is to change the world through digital experiences. Today, the digital economy runs largely on Adobe’s tools and platforms. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud.

Meanwhile, Figma’s mission is to help teams collaborate visually and make design accessible to all. Founded by Dylan Field and Evan Wallace in 2012, the company pioneered product design on the web. Today, it’s making it possible for everyone who designs interactive mobile and web applications to collaborate.

THREAD: This morning we’re announcing that @Figma has entered into an agreement to be acquired by @Adobe !

More information here: https://t.co/eqJsSlkShq (1/9)

— Dylan Field (@zoink) September 15, 2022

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, the two companies said. They expect the new combined company to have a massive impact.

“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. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”

With Adobe’s and Figma’s expansive product portfolio, the combined company will have a rare opportunity to power the future of work by bringing together capabilities for brainstorming, sharing, creativity and collaboration and delivering these innovations to hundreds of millions of customers, the companies argued.

Adobe and Figma expect that they merger will benefit all stakeholders in the product design process, from designers to product managers to developers, by bringing powerful capabilities from Adobe’s imaging, photography, illustration, video, 3D and font technology into the Figma platform.

“With Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser, while building new tools and spaces to empower customers to design products faster and more easily,” said Dylan Field, co-founder and CEO, Figma.

Under the definitive agreement, Adobe has agreed to acquire Figma for approximately $20 billion, comprised of approximately half cash and half stock. The transaction is expected to close in 2023. Upon the closing of the transaction, Dylan Field, Figma’s co-founder and CEO, will continue to lead the Figma team.

AcquisitionAdobeFigma