Adobe: punished for Figma acquisition deal
(CercleFinance.com) - Adobe shares are down 12% in early trading on Wall Street today, after the software company announced a definitive agreement to acquire Figma, a leading Web-based collaborative design platform, for about 20 billion dollars.
The combination will usher in a new era of collaborative creativity. The combined company will have a massive, fast-growing market opportunity and the ability to generate significant value, the group said.
About half of the acquisition will be paid for in cash and the half with equity, subject to customary adjustments. It is expected to close in 2023, subject to regulatory approvals and other customary conditions.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The combination will usher in a new era of collaborative creativity. The combined company will have a massive, fast-growing market opportunity and the ability to generate significant value, the group said.
About half of the acquisition will be paid for in cash and the half with equity, subject to customary adjustments. It is expected to close in 2023, subject to regulatory approvals and other customary conditions.
Copyright (c) 2022 CercleFinance.com. All rights reserved.