Adobe buys XD rival Figma for $20 billion
Digital UI and UX design firm Figma is being acquired by Adobe, which has competed in the same space with its Adobe XD software.
Adobe has announced that it is begun what it calls a "definitive merger agreement to acquire Figma," for approximately $20 billion in stock and cash. The creators of the 10-year-old Figma will join Adobe, and the deal is expected to clear the regulatory approval process in 2023.
"This has been in the works over the past few months and I'm so excited to finally share this news with the world," said Figma co-founder Dylan Field in a blog post. "Ten years ago, Evan [Wallace] and I set out on a journey to make design accessible to all."
"Looking back, I'm proud to say we've made progress through introducing Figma to designers of all ages, geographies and levels of experience," he continued. "Looking ahead, we're still barely scratching the surface."
"There is a huge opportunity for us to accelerate the growth and innovation of the Figma platform with access to Adobe's technology, expertise and resources in the creative space," said Field. "Adobe is deeply committed to keeping Figma operating autonomously and I will continue to serve as CEO, reporting to David Wadhwani."
In his own blog post, Wadhwani noted that he joined Adobe when the company acquired Macromedia sixteen years ago.
"Figma is a rare, generational team," he wrote. "They were the first to recognize that product design is so much more than just the tooling: it starts with brainstorming across all stakeholders; it's inherently multi-player and web-based; and it requires sophisticated design systems and analytical capabilities."
"Together, we can make the future of imaging, photography, illustration, video and 3D more accessible and more collaborative than ever before," said Wadhwani.
Adobe has not commented on whether its competing Adobe XD product will continue. A free trial of Adobe XD is available on Adobe's website.
Read on AppleInsider
Adobe has announced that it is begun what it calls a "definitive merger agreement to acquire Figma," for approximately $20 billion in stock and cash. The creators of the 10-year-old Figma will join Adobe, and the deal is expected to clear the regulatory approval process in 2023.
"This has been in the works over the past few months and I'm so excited to finally share this news with the world," said Figma co-founder Dylan Field in a blog post. "Ten years ago, Evan [Wallace] and I set out on a journey to make design accessible to all."
"Looking back, I'm proud to say we've made progress through introducing Figma to designers of all ages, geographies and levels of experience," he continued. "Looking ahead, we're still barely scratching the surface."
"There is a huge opportunity for us to accelerate the growth and innovation of the Figma platform with access to Adobe's technology, expertise and resources in the creative space," said Field. "Adobe is deeply committed to keeping Figma operating autonomously and I will continue to serve as CEO, reporting to David Wadhwani."
In his own blog post, Wadhwani noted that he joined Adobe when the company acquired Macromedia sixteen years ago.
"Figma is a rare, generational team," he wrote. "They were the first to recognize that product design is so much more than just the tooling: it starts with brainstorming across all stakeholders; it's inherently multi-player and web-based; and it requires sophisticated design systems and analytical capabilities."
"Together, we can make the future of imaging, photography, illustration, video and 3D more accessible and more collaborative than ever before," said Wadhwani.
Adobe has not commented on whether its competing Adobe XD product will continue. A free trial of Adobe XD is available on Adobe's website.
Read on AppleInsider
Comments
Adobe always does this, if you can't beat them, buy them out! Dreamwaever, Freehand, After Effects, Cyber Studio, Flash and most of their purchases end up in the Adobe graveyard. Having said that, this purchase is a smart move and will entrench Adobe further within large corporations, where Figma has a solid existence.
Figma was making massive gains in the collaborative digital design space, particularly amongst large teams/organisations - and far better than XD is that regard. Finally felt like a serious challenger to the market dominance of Adobe.