Saturday, October 1

Adobe buys digital tools company Figma for $20 billion

The creative ‘software’ company Adobe has reached an agreement with Figma, specialized in digital tools for product design and prototyping, for its acquisition for 20,000 million dollars (a similar figure in euros), as reported this Thursday in a statement .

Figma has 850 employees and annual recurring revenue of nearly $400 million. The gross margin of the company is more than 90%. Adobe hope to integrate the tools of Figma within its ‘suite’ of creative products, which include Photoshop, Premiere, InDesign or Illustrator.

The acquisition will be closed in approximately equal parts in cash and stock. In addition, Adobe will grant Figma’s CEO and employees six million shares of restricted stock that will vest over a four-year horizon.

“The combination of Adobe and Figma is transformative and will accelerate our vision for collaborative creativity,” said Adobe President and CEO Shantanu Narayen.

On the other hand, Adobe has also published this Thursday its accounts for the third quarter of its fiscal year, which ended on September 2. In the quarter, the company posted net profit of 1,136 million dollars, 6.3% less.

In this way, earnings per share experienced a contraction compared to the third quarter of the previous fiscal year of 4%, to stand at 2.42 dollars.

Quarterly turnover was 4,433 million dollars, 12.7% more. By business segments, revenue from subscriptions grew by 12.9%, to 4,128 million, while revenue from products stood at 126 million, 5.9% more, and revenue from other services grew 12.6%, up to 179 million.

The costs associated with income were 546 million dollars, 16.9% more, while sales and marketing expenses stood at 1,266 million, 18.5% more, and general and administrative expenses rose 20 .4%, up to 319 million. The research and development item was 775 million.

For the nine months of its fiscal year as a whole, Adobe posted a net profit of $3.58 billion, virtually the same figure as a year earlier. Invoicing, on the other hand, grew by 12%, to 13,081 million dollars.

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