Adobe has agreed to acquire Figma for $20 billion

Adobe has announced that it's acquiring Figma, a popular design platform, for around $20 billion in cash and stock. Adobe made it official in a press release shortly after rumors surfaced early on Thursday about a potential acquisition. It's big news in the design and development world, particularly as Figma has been competing heavily with Adobe's XD products in recent years.

Figma was first founded 10 years ago by Dylan Field and Evan Wallace, and the collaborative design platform has become key for many businesses in recent years. Figma is all about the web, which is something Adobe and other rivals have been struggling to compete with. Adobe now plans to combine its own community with Figma.

While there are big ambitions on the product side, many things will remain the same. They currently have no plan to change Figma pricing and all of Figma will continue to be free for education.