Adobe announced that it will buy Figma, which has become one of its biggest competitors in the field of design, for $ 20 billion. The company did not share any information about the aftermath of the purchase.
Figma, which was first released in 2016 and has been one of the biggest friends of designers since its first day, came up with a huge news today. Although it is only a single application, it is Adobe’s biggest competitor in the field of design. Figma is being acquired by Adobe.
Adobe announced Figma in its announcement shared today. buy it for $20 billion explained. The company shared that it will pay half of the money in cash and half in stock, while Figma’s CEO and employees will be given 6 million additional shares, which will be transferred four years after the company’s acquisition. of the agreement It is expected to be completed in 2023.
What will happen to Adobe’s Figma rival apps?
With Adobe’s acquisition of Figma, it is not yet known what will happen to the company’s applications that rival Figma. Figma, Adobe’s it was specifically a competitor to the AdobeXD UI/user experience implementation. But it also contained basic photo editing and design creation features. Another feature that brought Figma to the fore was its community and its library of trainings and materials offered by this community.
Figma CEO will continue in his role:
Talking about the purchase decision, Figma CEO and co-founder Dylan Field used the following statements about what Adobe can add to the application:
“With Adobe’s incredible innovation and expertise, particularly in 3D, video, vector, imaging, and fonts, we can reimagine end-to-end product design in the Finder, creating new tools and spaces to enable customers to design products faster and easier.”
Figma had just reached a value of 10 billion dollars in June of last year.
So does this purchase mean that Adobe will turn to free apps?
Adobe, which sells dozens of applications in packages or individually, shared an announcement pointing to the transition to free in the past months. The company has its most popular application, Photoshop. a free version had published. With this development, it is expected that Adobe will also release some new free applications. The Figma acquisition was also probably a strategic move by Adobe to offer alternative free apps (and of course make it unbeatable).
Source :
https://www.reuters.com/markets/deals/adobe-nearing-deal-buy-online-design-firm-figma-bloomberg-news-2022-09-15/