By John Meyer, financial consultant. Eurasia Business News, September 15, 2022
U.S. software developer Adobe announced today the purchase of Figma, a Web service for designers, for $ 20 billion. Half of the amount will be paid in cash, half in Adobe shares.
Figma is one of the designers’ favorite tools. The software makes it possible to design prototypes, represent the user experience and standardize components within a design system.
Figma is also developing FigJam, a whiteboard software for brainstorming, collecting ideas, creating diagrams and facilitating meetings through dedicated templates and functions.
Adobe owns tools like Photoshop, Illustrator, and Acrobat Reader. The purchase of Figma will allow the company to add to its portfolio collaboration software, popular among designers. Adobe has been interested in such tools in recent years – in 2020, it bought project management and collaboration software Workfront, and last year – a platform for collaborating with video Frame.io. Simultaneously with the announcement of the transaction, Adobe presented reports for the third quarter – its revenue grew by 13%, to $ 4.4 billion.
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At the same time, Adobe shares after the announcement of the deal fell by 13% before the start of trading. Investors are concerned that to pay $ 20 billion for Figma, the company will have to increase its debts – at the beginning of September, it had cash and cash equivalents of $ 3.87 billion. “We are disappointed with the price we paid for the company(Figma),“ said David Wagner, a securities investment specialist at Aptus Capital Advisors, which owns a 1.5% stake in Adobe.
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