Adobe to buy software design group Figma for around $20bn

Adobe confirmed on Thursday that it has agreed to buy Figma, a web-first collaborative design platform, for around $20bn in cash and shares.

The company said the combination of the two will usher in "a new era of collaborative creativity".

Adobe said Figma’s mission is to help teams collaborate visually and make design accessible to all. Founded by Dylan Field and Evan Wallace in 2012, the company pioneered product design on the web.

"Today, it is making it possible for everyone who designs interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich, extensible developer ecosystem," Adobe said. "Figma has attracted a new generation of millions of designers and developers and a loyal student following."

The deal is expected to close next year, subject to regulatory and shareholder approvals.

Upon closing, Figma co-founder and chief executive Dylan Field will continue to lead the Figma team, reporting to David Wadhwani, president of Adobe’s Digital Media business.