Adobe acquires Figma, Inc. (terminated)

Adobe acquired Figma, Inc. (terminated) for approximately $20 billion in cash and stock (agreement terminated in December 2023; deal did not close), a transaction announced in September 2022, structured as combination of cash and stock. The deal was a Merger (terminated).

Figma, Inc. (terminated) operates in Creative / Digital Media. Figma is a web-first collaborative design platform founded by Dylan Field and Evan Wallace in 2012 that pioneered product design on the web. Adobe entered into a definitive merger agreement in September 2022 to acquire Figma for approximately $20 billion in cash and stock, but the companies mutually terminated the agreement in December 2023 after concluding there was no clear path to regulatory approval in Europe and the UK.

Adobe described the combination as transformational and a way to accelerate its vision for collaborative creativity, combining Adobe's innovation in imaging, photography, illustration, video, 3D, and fonts with Figma's web-first collaborative design platform. The companies later terminated the deal based on a joint assessment that there was no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.

Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently.Shantanu Narayen, Chair and Chief Executive Officer, Adobe (December 2023 termination announcement)

Advisory firms were not disclosed for this transaction.

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