Adobe Failed To Acquire Figma; Now Figma is a Bigger Threat Than Ever After A $1 Billion Payday And New Acquisition On The Horizon

Following a highly anticipated bid by Adobe Inc. ADBE to acquire Figma, hopes were high for a union that promised digital innovations and creative workflows. However, the deal hit a roadblock as regulatory approvals from the European Commission and the UK Competition and Markets Authority proved elusive because of antitrust laws.

The failed acquisition, stemming from challenges in obtaining regulatory nods, saw both Adobe and Figma expressing disappointment with the outcome. Despite their shared vision of redefining creativity and productivity, the companies chose to amicably part ways.

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"Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently," Adobe Chair and CEO Shantanu Narayen said in the company's press release. Narayen highlighted their shared vision to redefine creativity and productivity, albeit separately.

Adobe was obligated to pay Figma a reverse termination fee of $1 billion in cash following the deal’s termination, according to filings with the Securities and Exchange Commission. Adobe intended to acquire Figma for $20 billion.

Despite this setback, Figma remained resilient, boasting a projected $600 million in annual recurring revenue for 2023 — a 50% increase from the previous year.

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Empowered by a substantial cash infusion, Figma wasted no time in charting its course forward.

The company's latest move involves the strategic acquisition of Dynaboard, a platform focusing on its real-time web app design capabilities and multiplayer collaboration features. With Dynaboard now under its wing, Figma is poised to fortify its collaborative ecosystem and enhance its offerings for remote work scenarios.

"Dynaboard aimed to bridge the gap between idea and production. We believe Figma to be the best place to continue our work. Designers and developers globally use Figma to design and build phenomenal digital products," Dynaboard CEO Alex Kern said. "We've long been inspired by their groundbreaking multiplayer canvas, their commitment to a high standard of excellence, and their fun-loving creative spirit."

Dynaboard, having secured $6.6 million in funding from investors including General Catalyst, brings a wealth of expertise in real-time collaboration — a capability that's increasingly valuable in today’s distributed work environments.

Figma's resilience in the face of regulatory hurdles and its strategic acquisitions underscore its commitment to empowering creative collaboration. With a focus on innovation and expansion, Figma not only rebounds from adversity but also sets the stage for a new era of collaborative creativity.

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