Adobe plans to acquire Figma for €20 billion. The deal includes Figma’s cloud-based interface design platform. Adobe also announced its latest quarterly results.
The acquisition of Figma should bring additional creative solutions to Adobe’s portfolio. For Figma, the acquisition is an opportunity to integrate even more creative software technology. The transaction will be financed in both cash and equity, and should be completed by the end of this year.
The startup’s cloud-based interface development platform is very popular among creative business end users. A total of 4 million designers use the platform. Figma targets both website and application developers.
The Figma platform allows multiple designers to edit an interface at the same time. The platform also allows users to collect and process feedback from other project participants like software developers.
In addition, Figma provides tools for prototyping, including no-code application interface design. Furthermore, the platform speeds up design tasks, such as drawing geometric figures. When an interface is ready, the platform can generate code to transform the interface into a working application or website.
FigJam, a second Figma product, provides a virtual whiteboard for prototyping interface elements. This tool can also be used for other tasks, such as planning marketing campaigns.
In addition to the Figma acquisition, Adobe announced its quarterly figures for the third fiscal quarter of 2022. In the past quarter, revenue increased by 15 percent to a total of €4.3 billion. Another increase (€4.5 billion) is expected for the next fiscal quarter of this year.