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Agreement news came up from the officials on 15th September 2022. Figma is expected to be acquired by Adobe in 2023. This acquisition becomes the talk of the table in the design industry.
A software company is buying an online design company in an approximately $20B Cash-And-Stock deal. It is considered a big deal for the online design company in the design market. It still needs approval from Figma’s shareholders.
Figma is a Web-based application founded by Dylan Field and Evan Wallace in 2012. It allows users to collaboratively design interfaces for web and mobile applications. The company was worth $10 billion in 2021.
Future of Creativity:
Both companies’ individuals and teams are more creative. Adobe expected to make changes in imaging, photography, illustration, video, and 3D more accessible and realistic.
The seller company’s mission is to help teams collaborate visually and make design accessible to its users. It is possible to everyone to design easily on mobile and web applications and add their comments. It has attracted new generations and millions of designers.
The combination of both will enter a new era of a strong collaboration of creativity. both companies’ mission is to change through digital experiences.
We’re excited to share our intent to acquire @Figma. Together, we will usher in a new era of collaborative creativity. Key info: https://t.co/9wDSHPhyvE pic.twitter.com/U5SduJUVvc
— Adobe (@Adobe) September 15, 2022
After this agreement, we can expect a future of creativity and productivity, and enrichment in web creativity. It will inspire creators, designers, and developers worldwide communities. This collaboration will create a gigantic, fast-growing opportunity that will provide significant value to their customers, shareholders, and the industry.
Adobe Buying Figma in a $20B Cash-And-Stock Deal:
The deal is expected to close next year. The software company said in a presentation to investors that the seller will add $200 million in annual run-rate revenue in 2022. It will also add more than $400 million in ARR exiting the year. The software company closed deals of around 50 times annualized revenue. Its shares were drowned by around 17% and it became the biggest thrust since 2010. The design company has raised about $333 million in venture capital.
When the deal is closed with both parties, the Design company will keep running by its owners. But they’ll report to the Adobe president of the digital media business, David Wadhwani. “Figma has built a phenomenal product design platform on the web,” the president said.
Conclusion
Users are expecting positive changes in the designs as the owners mentioned. We all are looking forward to the huge advancement in the designs, web, and products, and going to inspire and empower the designer and developer communities.
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