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.

Figma is all about the web, which is something Adobe and other rivals have been struggling to compete with.