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Adobe decided not to go gentle into that good night.
In a massive move, the desktop design giant announced it’s acquiring Figma for approximately $20 billion in cash and stocks. This is Adobe’s largest acquisition to date, far outstripping the runner up, Marketo, purchased at under $5 billion. From a strategic point of view, it’s also an excellent acquisition.
Adobe has been losing market share to Figma for years now. With this move, they regain their grasp on the professional design market.
Since last year, Adobe’s shares have plummeted over 50%. There’s no doubt, these losses are, in part, due to their slow adaptation to the web. On the other hand, Figma, a native web-first collaborative design platform, has been growing and adapting at a rapid clip since its launch in 2015.
In Adobe’s press release, they stated, “The combination of Adobe and Figma will usher in a new era of collaborative creativity.” In a Venngage Slack thread, we stated, “Hope they don’t ruin it…”
Here’s hoping! Meantime, check out this timeline of notable Adobe acquisitions over the years:
Adobe acquisitions timeline infographic
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