4 things to know about the $20B Figma deal
Figma is a popular design software company but the price tag Adobe is willing to pay has shocked some observers...
Today, Adobe announced it has entered into a definitive merger agreement to acquire Figma, a well-known graphic design software provider.
Here are four things to know about the deal:
1/ Adobe will pay roughly $20 billion (in cash and stock) for the ten-year-old company.
2/ Figma software is quite popular among graphic designers, especially for its collaboration and prototyping features. It competes with Adobe’s XD program.
3/ Some observers were surprised by the high price tag. It’s about 50 times Figma’s reported $400 million of 2022 annual recurring revenue (ARR).
4/ The transaction is expected to close in 2023.
Thanks for reading The PhilaVerse! Subscribe for free to receive new posts and support my work.