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Adobe Acquire Figma for $20 billion

Adobe said today that it will purchase Figma for $20 billion, eliminating one of its main competitors in the digital design space.

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The WSJ and Bloomberg both claimed this morning that Adobe was near to announcing the acquisition of Figma. Finally, Adobe verified the news in time for its quarterly earnings.

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According to Adobe, the acquisition will be half cash and half stock, with 6 million additional restricted stock units awarded to Figma's CEO and staff that will vest over four years.

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It is projected to close in 2023, subject to regulatory clearances and approvals and the fulfilment of other closing conditions, including Figma shareholder approval.

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Figma's product strengths include design and prototyping for people and teams, done in a very efficient and sophisticated, cloud-based environment, and it has over 4 million users to date.

The goal now is to develop a seamless link between Adobe iconic features and Figma, effectively making it the native platform that connects them all. 

Of fact, Adobe previously had something similar in the shape of AdobeXD. It's unclear what will happen to it after this transaction is completed.