Adobe buying Figma in $20B cash-and-stock deal

Software company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal.

Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem.

The companies said that Figma’s web-based, multi-player capabilities will accelerate the delivery of Adobe’s creative cloud technologies on the web, making the creative process more productive and accessible to more people.

San Jose, California-based Adobe sells software for creating, publishing and promoting content, and managing documents.