Adobe announced Thursday morning that it will buy design software firm Figma in a deal worth about $20 billion in cash and stock.
As it turns out, Figma, founded in 2012, creates cloud-based design software that allows teams to collaborate in real time.
It competes head-to-head with Adobe’s XD program.
Adobe said it will integrate some of the features from its other products, such as illustration, photography and video technology, into the Figma platform.
Adobe sells a variety of software services for photography and video professionals, such as Photoshop, Illustrator, Premiere Pro, and more.
