to Acquire Figma for $20B.
is part of Adobe's efforts to broaden its capabilities for virtual collaboration as well as remote production, design.
Adobe has signed an agreement for a definitive merger to purchase Figma for around $20 billion in cash and shares.
The acquisition is part of Adobe's continuing efforts to improve its collaborative tools and builds on the previous acquisitions of Workfront
A work management platform Workfront in the year 2020, and the deal in 2021 to acquire Frame.io Cloud-based technology for video collaboration.
This combination between Adobe and Figma is transformative and will further advance our plans to create collaboratively
Founded in 2012 by Dylan Field and Evan Wallace in 2012, Figma pioneered product design on the internet.
The Figma team also stated that its multi-player capabilities on the web will help speed up the release the Adobe Creative Cloud technologies on the web.
Making the process more productive and available to a wider audience.