Adobe to acquire Figma for ~$20B in cash and stock

ADOBE INC.

Total consideration ~$20B, half cash/half stock; ~6M RSUs to Figma CEO & employees vesting over 4 years.
Figma ARR expected to exceed $400M exiting 2022; net new ARR ~$200M; NDR >150%; gross margins ~90%; positive OCF.
Expected close in 2023; subject to regulatory clearances & Figma stockholder approval; $1B reverse termination fee if antitrust blocks deal.
Dylan Field to continue as Figma CEO, reporting to Adobe's David Wadhwani.

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