Adobe snaps up Figma for $20B, taking out one of its biggest rivals in digital design
Posted: Sat Sep 17, 2022 4:33 pm
https://techcrunch.com/2022/09/15/adobe ... al-design/
Adobe Inc. (originally called Adobe Systems Incorporated) is an American multinational computer software company incorporated in Delaware and headquartered in San Jose, California. It has historically specialized in software for the creation and publication of a wide range of content, including graphics, photography, illustration, animation, multimedia/video, motion pictures, and print. Its flagship products include Adobe Photoshop image editing software; Adobe Illustrator vector-based illustration software; Adobe Acrobat Reader and the Portable Document Format (PDF); and a host of tools primarily for audio-visual content creation, editing and publishing.
Figma is a collaborative web application for interface design, with additional offline features enabled by desktop applications for macOS and Windows. The feature set of Figma focuses on user interface and user experience design, with an emphasis on real-time collaboration, utilising a variety of vector graphics editor and prototyping tools. The Figma mobile app for Android and iOS allows viewing and interacting with Figma prototypes in real-time on mobile and tablet devices.
Adobe announced on 15 September 2022 that it would acquire Figma for approximately $20 billion in cash and stock.
Big news in the world of digital creative technology: Adobe today announced that it would acquire Figma for $20 billion, taking out one of its biggest rivals in the realm of digital design.
Both the WSJ and Bloomberg reported earlier this morning that Adobe was close to announcing the deal to acquire Figma. In the end, Adobe confirmed the news to coincide with its quarterly earnings.
Those Q3 earnings saw the company post revenues of $4.43 billion and non-GAAP earnings per share of $3.40, which respectively met and exceeded analysts’ expectations. Nevertheless, the company said that it might need to finance this deal with a loan, and it provided a lukewarm outlook for the next quarter, with revenues expected to be $4.52 billion and EPS of $3.50, citing "the overall macroeconomic environment" and "FX headwinds". Its stock is trading down nearly 10% pre-market open - one sign of how Adobe likely hoped the news of consolidating and taking out a rival could give it a boost.
Adobe Inc. (originally called Adobe Systems Incorporated) is an American multinational computer software company incorporated in Delaware and headquartered in San Jose, California. It has historically specialized in software for the creation and publication of a wide range of content, including graphics, photography, illustration, animation, multimedia/video, motion pictures, and print. Its flagship products include Adobe Photoshop image editing software; Adobe Illustrator vector-based illustration software; Adobe Acrobat Reader and the Portable Document Format (PDF); and a host of tools primarily for audio-visual content creation, editing and publishing.
Figma is a collaborative web application for interface design, with additional offline features enabled by desktop applications for macOS and Windows. The feature set of Figma focuses on user interface and user experience design, with an emphasis on real-time collaboration, utilising a variety of vector graphics editor and prototyping tools. The Figma mobile app for Android and iOS allows viewing and interacting with Figma prototypes in real-time on mobile and tablet devices.
Adobe announced on 15 September 2022 that it would acquire Figma for approximately $20 billion in cash and stock.
Big news in the world of digital creative technology: Adobe today announced that it would acquire Figma for $20 billion, taking out one of its biggest rivals in the realm of digital design.
Both the WSJ and Bloomberg reported earlier this morning that Adobe was close to announcing the deal to acquire Figma. In the end, Adobe confirmed the news to coincide with its quarterly earnings.
Those Q3 earnings saw the company post revenues of $4.43 billion and non-GAAP earnings per share of $3.40, which respectively met and exceeded analysts’ expectations. Nevertheless, the company said that it might need to finance this deal with a loan, and it provided a lukewarm outlook for the next quarter, with revenues expected to be $4.52 billion and EPS of $3.50, citing "the overall macroeconomic environment" and "FX headwinds". Its stock is trading down nearly 10% pre-market open - one sign of how Adobe likely hoped the news of consolidating and taking out a rival could give it a boost.