By Dean Seal

 

Adobe Inc. has reached a cash-and-stock deal to acquire the collaborative-design-platform Figma for about $20 billion.

Adobe said Thursday that Figma's web-based capabilities would accelerate the delivery of Adobe's Creative Cloud technologies on the web.

Half of the deal would be funded in cash and the other half in Adobe stock, with a grant of about 6 million additional restricted stock units to Figma's chief executive and employees that will vest over four years.

The cash consideration would come from cash on hand as well as a loan, if needed, Adobe said.

The deal is expected to close in 2023.

Adobe shares were down 7.4%, to $344, in premarket trading.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

September 15, 2022 08:31 ET (12:31 GMT)

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