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Adobe computer software company is investing $20 billion to buy Figma design platform. It was reported that investors were alarmed by the move and the company's shares also dropped after the deal was reported.
Adobe Inc. revealed on Thursday, Sept. 15, that it has agreed to acquire Figma software firm for the future of the company. The latter is known to offer products that are being used by software developers for collaborative web applications for interface design.
According to Reuters, the $20 billion price tag of the acquisition deal has brought discomfort to investors as the value is too high. They have also grown concerned because the deal also caused the company's market value to drop by more than $30 billion.
Despite these worries, Shantanu Narayen, Adobe's chairman and chief executive officer, said the purchase of Figma offers a long line of new opportunities for the firm. He described Figma as "the future of work"; thus, by combining Adobe and Figma's product offerings, such as the Acrobat and Figjam online whiteboard, they will achieve a new level of success.
Adobe Inc. will be paying Figma in cash and stock, and this acquisition will officially expand its design software portfolio. It was noted that the company that is already offering popular editing applications, including Photoshop and After Effects, is continuing to add new ventures to further widen its tools space.
"Adobe's greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions," Adobe's CEO said in a press release. "The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity."
Figman's co-founder and CEO, Dylan Field, also added, "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."
Finally, Adobe's president of the digital media business, David Wadhwani, said they are looking forward to the collaboration with the incredible team of Figma. He said that this deal would definitely scale up their joint mission of reimagining the future of creativity and productivity.
