Adobe Acquires Rival Figma
Adobe recently announced that it had acquired Figma, its rival web-first collaborative design platform, for a USD20 billion deal that will allow Adobe to incorporate Figma’s popular design tools into its widely used portfolio of creative apps.
The multimedia software company described the acquisition as ushering in a "new era of collaborative creativity." With the acquisition of Figma, Adobe is expanding its web capabilities. It hopes to integrate the design platform's imaging, photography, illustration, video, 3D, and font capabilities into the Figma platform.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity," said Shantanu Narayen, chairman and chief executive officer, Adobe.
Dylan Field, co-founder and chief executive officer of Figma, expressed optimism about the acquisition, saying it would be a turning point for Figma in the future.
"With Adobe's amazing innovation and expertise, especially in 3D, video, vector, imaging, and fonts, we can further reimagine end-to-end product design in the browser while building new tools and spaces to empower customers to design products faster and more easily,” Field elaborated.
End of rivalry
Founded in 2012 by Dylan Field and Evan Wallace, Figma is a web-based design software tool that allows designers to collaborate on and build interactive mobile and web applications. It makes collaboration possible for everyone — from students to developers — using sophisticated workflows, design systems, and an extensible developer ecosystem.
A direct competitor of AdobeXD, Figma is projected to capture approximately USD16.5 billion of the addressable market for design software by 2025.
“Figma has built a phenomenal product design platform on the web,” said David Wadhwani, president of Adobe’s Digital Media business. “We look forward to partnering with their incredible team and vibrant community to accelerate our joint mission to reimagine the future of creativity and productivity.”
The acquisition, expected to close in 2023, will not affect Figma's operations or pricing structures in the foreseeable future. Figma continues to operate independently and will continue free educational use of its platform.
Field will continue to lead the Figma team after Adobe acquires the company. Until the transaction closes, each company will continue to operate independently.
“We plan to continue to run Figma the way we have always run Figma – continuing to do what we believe is best for our community, our culture, and our business,” Field said in a statement. “Adobe is deeply committed to keeping Figma operating autonomously.”
Image credit: iStockphoto/metamorworks
