Adobe to acquire design platform Figma for $20 billion

Figma will be acquired by Adobe for about $20 billion in cash and stock.

Teams can collaborate in real time with Figma's cloud-based design software. It is competing with Adobe's program.

Some of the features from Adobe's other products will be integrated into Figma's platform. Adobe offers a wide range of software services for photo and video professionals.

"Adobe's greatness has been built on our ability to create new categories and deliver cutting-edge technologies through organic innovation and acquisitions," said Shantanu Narayen, chairman and CEO, Adobe. Our vision for collaborative creativity will be accelerated by the combination of Adobe and Figma.

Dylan Field will continue to run the company after the deal is closed. He will report to David Wadhwani.

Adobe's shares fell in premarket trading.

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