Software company Adobe announced that it will buy collaborative design startup Figma in a multibillion-dollar deal.
According to the agreement, Adobe will buy Figma for approximately $20 billion in a transaction involving roughly half stock and half cash, the tech giant said in a news release on Sept. 15. Adobe will grant six million additional restricted stock units to Figma’s co-founder and CEO, Dylan Field, as well as the startup’s employees. Adobe is expecting the transaction to be funded through its cash at hand. If necessary, the company will also take a term loan.
