Dylan Field, Co-founder and CEO of Figma, has announced that the company has entered into an agreement to be acquired by Adobe. According to sources, Adobe’s acquisition of Figma will cost the former about $20 billion and is expected to be completed by Thursday.
Once the Figma deal is completed, it will be Adobe’s largest acquisition to date. People familiar with the matter have said that half of that $20 billion will be paid in the form of equity shares and another half in cash. Dylan Field will continue to be the CEO and now report to David Wadhwani, executive vice president and chief business officer of Adobe’s Digital Media Business.
While talking about the acquisition in an official blog post, Dylan Field said the partnership with Adobe would benefit both the users and the Figma platform. Field further believes that Figma will accelerate growth by incorporating Adobe’s expertise in imaging, photography, illustration, video, 3D, and font technology. The Figma CEO has also revealed that the platform will operate autonomously. With the help of Adobe’s expertise, Figma promises to expand into new areas over time while continuing its effort to make Figma Design, FigJam, and the Figma community platform even better.
Recognizing the world’s current unpredictable and inflationary environment, the Figma CEO has said that the company currently has no plans to increase the pricing of its offerings for now. However, he doesn’t rule out the possibility of a price increase in the future. Figma’s education offering will continue to be free.
“Like many of you, I grew up using Adobe software and it was a critical part of my personal creative journey. It is an incredible opportunity and honor to help Adobe build the next generation of creative tools,” Field said.