$20Billion Deal: Adobe Acquires Figma
Earlier today, Adobe (Nasdaq:ADBE) announced the acquisition of the popular design platform Figma. The announcement is a definitive merger agreement for approximately $20 billion in cash and stock.
If you've touched a computer in the last 10 years you've likely used Adobe tools—even unknowingly. Founded in December 1982 by Charles Geschke and John Warnock, Adobe has had strong Utah ties from the beginning and most notably after the acquisition of Omniture in 2009. Adobe opened a new campus in Lehi in 2012, and in June 2020 they completed their second building phase.
In 2020 Adobe celebrated its 20th year on Fortune’s Best Company to Work For list and was also recognized as one of Fortune’s Most Admired Companies in the World, Forbes’ Best Workplaces in America, and Best Employers for Diversity. All this to say, we're pretty excited to have an Adobe presence in Utah and we're pumped about the merger.
"The combination of Adobe and Figma will usher in a new era of collaborative creativity." Adobe said in this morning's press release. “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” said Shantanu Narayen, chairman and CEO, Adobe. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.”
Find the announcement here, and to learn more, visit Adobe.com.