Adobe agreed to acquire Figma in 2022 for approximately $20 billion.
Figma was founded in 2012 by Dylan Field and Evan Wallace. Its browser-based design platform allowed teams to create interfaces, prototypes, and graphics collaboratively in real time. Because files could be shared and edited online, Figma became especially popular with product designers and distributed software teams.
Adobe announced the proposed acquisition in September 2022. The transaction was valued at approximately $20 billion, split between cash and Adobe stock. It would have been one of the largest software acquisitions ever proposed and would have combined Figma with Adobe products such as Photoshop, Illustrator, and XD.
The deal faced regulatory opposition, particularly in the United Kingdom and European Union. Adobe and Figma abandoned the transaction in December 2023 after concluding there was no clear path to regulatory approval. Therefore, Adobe agreed to acquire Figma, but it never completed the purchase. Figma remains distinct from Sketch, InVision, and Canva.