Adobe (ADBE) Stock Agrees to Buy Figma

Adobe announced Thursday that it will acquire design tech company Figma worth about $20 B in cash and stock.

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Adobe's stock was down 15.91% today, its biggest drop since 2010.

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On Thursday, ADBE Stock reported Q3 earnings that exceeded analysts' expectations but revenue that fell short.

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ADBE Stock reported revenue of $4.43 billion in its Q3 of the financial year of 2022, which represents a 13 percent YOY growth.

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Check here

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Adobe claims that "together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design

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To inspire global communities of creators, designers, and developers."

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