Software giant, Adobe acquires Figma in a record-breaking deal of the century, said to be the biggest takeover of a private software company. The payment will be part cash and part stock is valued at $20 Billion.
Figma was co-founded a decade ago by Dylan Field and Evan Wallace. Figma is a browser-based software design tool that allows designers to work together in real-time bypassing the clumsy and tedious process of saving and sending their work to other collaborators. The company was valued at $10 Billion at the last funding round a year ago.