Adobe will acquire collaborative design platform Figma for $20 billion, financed half in stock, half in cash, a transaction that allows the creation software giant to get its hands on one of its emerging competitors.
Despite the current difficult climate for the technology sector, marked by a sharp decline in the stock market and unfavorable financing conditions, the amount offered by Adobe is much higher than the valuation of Figma during its last fundraising, in June 2021. .
The group founded in 2012 and established in San Francisco had, in fact, raised 200 million dollars for a total valuation of 10 billion dollars.
Adobe expects the company to generate $400 million in recurring revenue in its 2023 fiscal year, according to a presentation released Thursday in addition to the statement announcing the acquisition, which is expected to close in 2023.
In electronic trading before the opening of the Stock Exchange, the title Adobe fell by more than 10%.
In just ten years, Figma, which currently has around 850 employees, has established itself as a reference tool in many companies, including many of the technology giants, to the point of competing with established companies such as Adobe.
Creator of the so-called PDF format (portable document format) and editing software Photoshop, Adobe has among its products the collaborative design tool Adode XD.
“Figma has built a phenomenal design platform on the Internet,” said David Wadhwani, president of digital media activities at Adobe, quoted in the press release, for which this alliance will allow “to create new tools and spaces to help customers to design products faster and easier.”
The agreement provides that the chief executive and co-founder of Figma, Dylan Field, will remain at the head of the company, reporting to David Wadhwani.