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...Adobe did not immediately reply to a request for comment. Figma declined to comment....
...Adobe’s offer for Figma values the company at 50 times its annual recurring revenue....
...Narayen said Adobe was engaging with all of the global regulators and was committed to working with them....
...If valued on a similar sales multiple to Adobe it would be below $9bn. Adobe was willing to value Figma at 50 times forward revenue — five times more than peers....
...Adobe will pay Figma $1bn in a termination fee under the terms of the merger agreement. Shares in Adobe were up 3 per cent on Monday....
...rivals to Adobe’s Photoshop and Illustrator applications....
...Adobe later said that in November it would increase the price of a number of its most widely used subscription services by about 10 per cent....
...The estimated $12bn to $12.4bn spent online on Monday topped last year’s $11.3bn on the same day, according to Adobe....
...Hawkins, who could not be immediately reached for comment, is a former Adobe executive and has been with TikTok since June 2020....
...“We remain confident in the merits of the case as Figma’s product design is an adjacency to Adobe’s core creative products and Adobe has no meaningful plans to compete in the product design space,” Adobe...
...Adobe disputed those claims, stating that it wanted to offer customers new products....
...Citi’s AI “basket”, for example, offers a one-stop shortlist of apparent AI beneficiaries such as Adobe, the design software company....
...Adobe’s defence is expected to be that this is a vibrant market where others can still thrive, and will stress that Figma and Adobe are complementary to each other....
...Smaller stocks, such as Cadence Design Systems and Adobe, have also done well....
...Products such as Getty’s and Adobe’s Firefly AI “blow up” arguments against doing this from companies that have called such a move “impractical”, he added....
...All of this is relevant again because Adobe on Thursday agreed to buy Figma for $20bn. Privately owned Figma makes a collaborative-design-workspace thing that’s in direct competition with Adobe’s XD....
...The final problem is that Figma competes with Adobe XD, launched in 2019....
...Adobe has been here before....
...The merger will allow Figma to bring Adobe’s capabilities in imaging, 3D and video on to its platform, said Adobe....
...Watching closely are other tech companies seeking to complete deals, such as Adobe, whose proposed $20bn bid for design software company Figma is also being investigated by the CMA....
...One statistic that piqued my attention is from Adobe Analytics, looking at shopping over Black Friday and Thanksgiving....
...In that vein, the verdict on Adobe’s $20bn purchase of design software company Figma, or on Broadcom’s $69bn deal to buy VMware, could prove more informative than Microsoft’s mega-deal....
...But that is to be expected: what is galling is that it lags behind its smaller peers Adobe and Intuit, and even the much smaller and faster-growing ServiceNow....
...Americans spent a record $9.12bn hunting down online bargains according to the latest estimates from Adobe Analytics....
...Adobe’s record-breaking $20bn purchase of design software company Figma is the biggest acquisition of a venture capital-backed US company in history....
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