'Photoshop' Adobe Acquires Figma for $20 Billion... Stock Price Plummets 17%

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Adobe, the American software company well known for 'Photoshop', announced on the 15th (local time) that it will acquire the design software company Figma for about $20 billion (approximately 28 trillion KRW).

On the same day, Adobe signed a contract to acquire Figma for $20 billion, half in cash and half in stock. Founded in 2012, Figma creates cloud-based design software that allows teams to collaborate in real time. It is also a competitor to Adobe's XD program.

This acquisition will enable Adobe to expand its market share in the design collaboration platform sector. Currently, Adobe sells software services for photo and video professionals such as Photoshop, Illustrator, and Premiere Pro. After the acquisition, Adobe plans to integrate some features like illustration, photo, and video technologies into the Figma platform.

Shantanu Narayen, Adobe's Chief Executive Officer (CEO), expressed expectations, saying, "The combination with Figma is innovative and will accelerate our vision for collaborative creativity." After the acquisition, Dylan Field, Figma's co-founder and CEO, will lead the company.

On the same day, Adobe also released its fiscal third-quarter earnings. Earnings per share were $3.40, surpassing Refinitiv's estimate of $3.33 per share. Revenue was $4.43 billion, in line with market expectations.

Following the acquisition news, Adobe's stock price on the New York Stock Exchange is experiencing its worst plunge since 2010. As of 3:08 PM, about an hour before market close, Adobe was trading down 16.8% compared to the previous session.

This content was produced with the assistance of AI translation services.