Adobe to buy Figma in $20 bln bid on future of work that spooks investors - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The cash-and-stock deal, the biggest buyout of a privately-owned software startup, will give Adobe ownership of a company whose web-based collaborative platform for designs and brainstorming is widely popular among tech firms including Zoom Video Communications, Airbnb Inc and Coin base.

“This partnership will give Figma users access to Adobe’s photography, illustration, and video technology, all in one place. And, Figma in return can offer its deep expertise inbuilding in the browser,” said Josh Coyne, partner at Kleiner Perkins, who first invested in Figma in 2018, an investment expected to deliver over 100 times in return once the deal closes.

Adobe is one of the most acquisitive companies in the Silicon Valley and has bought numerous businesses over the years, as it has looked to defend market share against competitors.

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