Connect with us

Tech

Adobe acquires web design platform, Figma, in $20 billion deal

Published

on

The United States multinational computer software company, Adobe, has acquired web design platform, Figma in a deal worth $20 billion in cash and stock.

Adobe made the announcement via its verified Twitter handle on Thursday.

The deal, according to the company, took the form of half cash and half stock.

“We’re excited to share our intent to acquire @Figma. Together, we will usher in a new era of collaborative creativity,” the tweet read.

Adobe plans to integrate some of the features from its other products, such as illustration, photography, and video technology into Figma’s platform.

READ ALSO: 7.5m Adobe accounts exposed by security blunder – Reports

Before the acquisition, Figma was famous for its cloud-based design software that allows teams to collaborate in real-time.

However, product designers are speculating that the new acquisition might lead to increase in service subscriptions on the product.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Click to comment

Leave a Reply

Your email address will not be published.

two × two =

Investigations