Adobe is Set to Acquire Figma for $20 Billion

Adobe is reportedly closing a deal to acquire Figma, a startup based in the United States that creates online design collaboration tools.

According to reports, the transaction could be completed for around $20 billion, as Adobe seeks to expand its portfolio of collaboration-focused platforms geared for the hybrid-work era. The leading software company is increasingly focusing on the collaboration tools market. Figma has also revealed that Adobe will continue to run Figma independently. Dylan Field, the current CEO of Figma, will remain in his position.

Adobe is said to be finalizing a deal to acquire Figma, a startup that creates online design collaboration tools.

According to a recent Reuters report, Figma could be purchased for around $20 billion. As previously stated, the acquisition fits into Adobe’s efforts to broaden its portfolio of collaboration-focused platforms geared toward the hybrid-work era.

Adobe is home to some of the most well-known graphics and photo-editing applications in the industry, including Photoshop and After Effects. Recently, the US company has been expanding its presence in the collaboration tools market.

Figma’s online collaborative design and brainstorming platform is currently used by companies ranging from Zoom Video Communications to AirBnB and Coinbase.

Dylan Field, the current CEO of Figma, stated in a blog post that he will remain in his position.