Two weeks ago, the design software giant Adobe announced its acquisition of Figma for $20 billion in cash and stock.
The Acquisition’s Benefits
From their official announcements, both companies seem quite satisfied with the deal, which is expected to close in 2023 once regulatory approvals have been passed.
For Adobe, the addition of Figma to its popular line of software products will not only eliminate its "Achilles’ heel" in the UI/UX field, but also allow it to reallocate investment previously spent on Adobe XD. While Adobe XD was the brand's primary UI/UX tool, it had not performed as well as other Adobe Suite software.
Moreover, through Figma’s collaborative design platform, Adobe can tap into the market of non-designers by incorporating its existing tools into the real-time design experience. Figma’s collaborative tools extend design beyond just designers to include other teams in the product development process, such as project managers and developers. Adobe XD, which was geared towards designers only, was unable to reach these potential customers previously.
Figma also has much to gain. According to Dylan Field, Figma’s co-founder and CEO, this acquisition is a "huge opportunity" for the platform to grow thanks to Adobe’s resources, technology, and expertise. Looking at Adobe’s previous acquisitions, Frame.io saw a 50% annual revenue increase, while Workfront’s revenue rose by 35%. Based on this trend, Figma’s business could benefit significantly.
In addition, Adobe has promised the Figma team complete autonomy over their own projects, while introducing their imaging, photography, illustration, video, 3D, and font technology for the platform’s expansion. Field sees this as a great opportunity for Figma to continue improving its existing products—Figma Design, FigJam, and the Figma Community—while simultaneously exploring new areas.
Concerns from the Community
The design community, as well as competitors, do not necessarily share this optimism. Some argue that Figma’s independence was exactly what made it so attractive, as users are increasingly wary of Adobe’s growing dominance over the design software market. With Figma no longer an independent competitor, there will be fewer high-quality and affordable alternatives available.
Others are more concerned about possible changes to product pricing. There is a fear that Figma’s affordable monthly plans and free student access might become history once it integrates into Adobe’s "predatory" pricing structure. Despite clarifications that pricing will remain unchanged, the community remains skeptical, with some even considering migrating to rival software like Sketch.
Other Software Choices?
If you are looking for more Figma alternatives besides Sketch, we also recommend Penpot. Like Figma and Sketch, Penpot supports collaborative UI/UX design and offers a vast selection of design tools.
The best part? Unlike the other two, Penpot is open-source and hence free to use. For teams on a tight budget, Penpot is an excellent go-to tool.
Get Started:
Check out our course on Penpot to learn the ropes!
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