By Colin Kellaher

 

Shares of Adobe Inc. moved lower in premarket trading Thursday after The Wall Street Journal reported that the software company is in advanced talks to buy the popular professional collaborative tool Figma for about $20 billion.

The San Jose company could announce a cash-and-stock deal as early as Thursday, the Journal reported, citing people familiar with the matter.

The deal would be the biggest ever for Adobe, which sports a market capitalization topping $170 billion. Adobe shelled out $4.75 billion for marketing-automation firm Marketo in 2018.

Adobe shares, which closed Wednesday at $371.52, were recently down 3.6% to $358.20 in premarket trading.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 15, 2022 08:12 ET (12:12 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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