Adobe is spending USD 20 billion to acquire the collaborative design platform Figma, the companies announced Thursday. The transaction, which includes roughly equal amounts of cash and stock, is anticipated to be completed in 2023. Dylan Field, co-founder and CEO of Figma, will remain in that position after the transaction is completed.
David Wadhwani, president of Adobe’s Digital Media business, will be his immediate supervisor. Figma claims that by incorporating Adobe’s areas of expertise, such as imaging, photography, illustration, video, 3D, and font technology, the company will be able to enhance the platform.
According to Adobe, the collaboration of the Figma and Adobe communities will “unlock the future of collaborative design” by bringing designers and developers closer together. Figma’s pricing is not currently set to change, and the platform will remain free for educational purposes.
Read More: Adobe to acquire Figma for $20 billion: What does it mean for users?
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