Software company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal. Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem.
The companies said that Figma’s web-based, multi-player capabilities will accelerate the delivery of Adobe’s creative cloud technologies on the web, making the creative process more productive and accessible to more people. San Jose, California-based Adobe sells software for creating, publishing and promoting content, and managing documents.
Each company will run independently until the transaction closes. At that time, Field, who will continue to lead the Figma team, will report to David Wadhwani, president of Adobe’s Digital Media business. Click here for the full story.