Technology @lemmy.world sanqueue @lemmy.world 7mo ago

Adobe abandons $20 billion acquisition of Figma

www.theverge.com Adobe abandons $20 billion acquisition of Figma

Figma will receive a $1 billion fee.

27 comments

Figma balls lmao gottem
- Could somebody explain this "figma balls" joke? There are no entries on urban dictionary.
  
  It comes from "Ligma balls".
  
  The word Ligma sounds like a disease, so you would say something like "it seems like he has Ligma" and bait someone into saying "Ligma?" or "What's Ligma?" at which point you say "Ligma balls"
  
  You can add "LMAO GOTTEM" at the end for extra punch
Headline should reflect that it's because of regulators, Adobe for sure would like to be a monopoly. Second time we were saved since Nvidia buying Arm got canceled.
- Well, specifically, a market monopoly for UX design tools. They already have a pretty strong stranglehold over other creative disciplines. Illustration, photography, graphic design, print publishing, etc.
  
  Like UX, there are lots of smaller alternatives, but Adobe’s apps dominate the pro space.
- Ah, headline should of read then "You Won't Believe How Big Government Steps In And Crushes This Person's* Freedom"
  
  *Person refers to Adobe, see laws and regulations of the United States
This is good news! It was looking like Figma would be killed off.
- If anything, Adobe XD would get the axe, not Figma. Figma is the industry leading design software for UX work. No way that would get killed.
  
  Adobe had already announced that they were sunsetting XD with the announcement of their Figma aquisition, as Figma is much more successful and filled the same space. I guess now the question is whether they decide to reverse course and revive XD now that they won't be getting Figma
  
  But Figma would be boundeled with other Adobe tools and would be harder to access.
What’s figma
- Nothing much, how about you?
- A gladiatorial arena for designers and front-end devs to fight in.
- An modern style illustrator vector program. It's a lot like Adobe Illustrator but with an easier to understand UI.
- It's pretty much a clone of Adobe XD but works in the browser. Adobe XD only has Windows and Mac clients and I think it's tied to all the Adobe Cloud bullshit. Feature wise I think they are pretty much the same, didn't dive deep enough to find differences, but Figma started getting traction and Adobe got scared. Now since Adobe can't buy it and Figma is getting a round billion to improve their tool it looks like Adobe is in a good position to loose this market.
  
  Technically it’s a clone of Sketch.
  
  Both Figma and XD copy the interaction models, layout, and key commands established by Sketch.
  
  Sketch dominated the UX design space before Figma took over.
So, does the Adobe XD team hang around now? Adobe was signaling that XD was going to get axed for Figma.
- Adobe XD got AXD xD
  
  LMAO! GOT EM!
It’s too bad companies don’t open source axed projects. I’m not an adobe fan nowadays but I really liked XD.
This is the best summary I could come up with:

Following mounting pressure from regulators in the UK and EU, Adobe and Figma announced on Monday that both companies are mutually terminating their merger agreement, which would have seen Adobe acquire the Figma product design platform for $20 billion.

As a result of the termination, Adobe will be required to pay Figma a reverse termination fee of $1 billion in cash.

“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe chair and CEO Shantanu Narayen in a statement.

“While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”

Developing...

The original article contains 135 words, the summary contains 135 words. Saved 0%. I'm a bot and I'm open source!

27 comments