HomeNEWSAdobe kills its biggest rival: Figma • ENTER.CO

Adobe kills its biggest rival: Figma • ENTER.CO

Surely you have heard of Adobe for its extensive suite dedicated to graphic and visual design. Now, the company announced that it will expand its services…or something like that. The company has just acquired Figma, the collaborative web tool that allows the design of all the visual interfaces you can imagine. Put like that, Adobe wiped out one of its biggest competitors.

The purchase was made for $20 billion dollars. The news of the agreement that would take place between both parties was first announced by Bloomberg. Later the same company (Adobe) confirmed the purchase together with its quarterly results. In fact, although the results of the third quarter are favorable (of at least $4,430 million dollars), the company argued that it will have to use a loan to finance the purchase.

It is not yet clear how Adobe intends to integrate its new application with existing products. For example, the company already has AdobeXD, an application that, in practice, fulfills the same functions as Figma. Now, it is a matter of waiting if both platforms will merge or how Adobe will proceed.

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As for the acquisition, the deal represents one half of the company in cash and the other half in stock. As Adobe commented, it will include an additional 6 million units of restricted shares that will be awarded to the CEO and various employees of Figma.

Currently, Figma has a cumulative of at least 4 million users, who access design and prototyping services for individuals and teams. The advantage of the app is that all designs run in a cloud-bound environment. For its part, Adobe has spent years acquiring all kinds of products and businesses dedicated to digital creation. Thanks to this, the company has reached a wide audience around the world. The truth is that Adobe’s DNA is design, although its great presence in marketing and other areas subscribed to design cannot be denied.

Image: Pexels

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