#Figma

After the announcement last year, Adobe will not be acquiring Figma anymore. It has been announced that last Monday, Figma and Adobe have mutually terminated their merger agreement. Adobe was supposed to acquire Figma and their platform for USD 20 billion. But despite thousands of hours spent with regulators around the world detailing differences between our businesses, our products, and the markets we serve, we no longer see a path toward regulatory approval of the deal,” said CEO of Figma Dylan Field. It was announced recently by Adobe that they’ll be acquiring Figma with a record-breaking deal of USD 20B worth of cash and stocks. Figma, initially released last 2016, is one of the leading collaborative web application and it is also known as a cloud-based UI designing and prototyping tool which are preferred by many IT professionals and companies. Based on their announcement, Adobe will be integrating its imaging, photography, illustration, video, 3D, and font technology into the Figma platform, further enhancing the collaborative web application. “Figma has built a phenomenal product design platform on the web,” said David Wadhwani, president of Adobe’s Digital Media business. Read more in our articles including "Adobe cancels purchase of Figma" and "Adobe to acquire Figma for a record breaking USD 20B deal".