Software giant Adobe will pay $20 billion to acquire Figma, a web-based collaborative design platform, in a deal worth about $20 billion.
The $20 billion price tag is about half cash and half stock. Adobe expects the deal to close in 2023, subject to the regulatory approvals and the approval of Figma’s stockholders. Founded in 2012, Figma provides a collaboration system for developers of interactive mobile and web applications.
“Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” Adobe chairman and CEO Shantanu Narayen said in announcing the deal. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
Also Thursday, Adobe reported record revenue of $4.43 billion, up 13% year over year, and net income of $1.14 billion for its third quarter of fiscal year 2022 ended Sept. 2.
More to come
Read More About:
Source: Read Full Article
