Adobe Shrugs Off Sticker Shock From $20 Billion Deal for Figma
- Stock battered to worst single-day slide in 12 years
- Acquisition merges upstart rival with creative software giant
This article is for subscribers only.
Adobe Systems Inc. spent $20 billion on its biggest acquisition ever of design software maker Figma Inc. to win the exact kind of consumers and small businesses the company has struggled to reach in recent years.
Wall Street panned the half-stock, half-cash purchase as too expensive, and Adobe shares suffered their worst day since 2010. But leaders from both companies said the deal buttressed their plans for the future.