Adobe (Nasdaq:ADBE) is to acquire Figma, a San Francisco-based web-first collaborative design platform, for approximately $20 billion in cash and stock.
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.
With the acquisition, 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. The company combination will benefit all stakeholders in the product design process, from designers to product managers to developers, by bringing capabilities from Adobe’s imaging, photography, illustration, video, 3D and font technology into the Figma platform.
Led by Dylan Field, co-founder and CEO, Figma is a design platform for teams who build products together. Born on the web, the system helps teams brainstorm, design, and build products— from start to finish.
The company has a total addressable market of $16.5 billion by 2025. The company is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR exiting 2022.