Adobe to acquire Figma in a deal worth $20 billion

Adobe has announced that it's acquiring Figma, a popular design platform, for around $20 billion in cash and stock. After rumors surfaced early on Thursday about a potential acquisition, Adobe made it official in a press release shortly afterward. It's big news in the design and development world, particularly as Figma has been competing heavily with Adobe's XD products in recent years.

I had never heard of Figma before, but it seems it's actually quite popular - for example, Microsoft uses it to design Office and Windows. This seems like a big catch for Adobe, but a competitor less, too, and that's not exactly great for the market.