Adobe enters agreement to acquire Figma
Adobe announced it is entering into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, promising that the combination of Adobe and Figma will usher in a new era of collaborative creativity.
“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, Adobe. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
The merger is for approximately $20 billion in cash and stock. Approximately 6 million additional restricted stock units will be granted to Figma’s CEO and employees that will vest over four years subsequent to closing.
Adobe expects the cash consideration to be financed through cash on hand and, if necessary, a term loan. The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of Figma’s stockholders.
Figma’s web-based, multi-player capabilities will accelerate the delivery of Adobe’s Creative Cloud technologies on the web, making the creative process more productive and accessible to more people.
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, according to the companies. The combined enterprise will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry.
Adobe and Figma share a passion for helping individuals and teams be more creative and productive. 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.
"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.
Upon the closing of the transaction, Field will continue to lead the Figma team, reporting to David Wadhwani, president of Adobe’s digital media business. Until the transaction closes, each company will continue to operate independently.
For more information about this news, visit www.adobe.com.