Adobe buys a rival

Article Excerpt

ADOBE INC., $286.30, is a buy. The company (Nasdaq symbol ADBE; TSINetwork Rating: Average) (www.adobe.com; Shares outstanding: 466.9 million; Market cap: $135.9 billion; No dividends paid) has agreed to buy collaboration-software company Figma for around $20 billion. Figma, based in San Francisco, specializes in cloud-based collaboration tools that aim to help teams better create and build web applications. The company’s products are similar to digital whiteboards in which designers and engineers can share design mockups and attach notes with feedback and suggestions. Notably, since its launch in 2011, Figma has taken market share in this area from Adobe. With ease of use for both individuals and teams, Figma now has over 4 million users. Going forward, Figma should be a good fit for Adobe to expand its online collaboration tools amid growing acceptance of the hybrid work model. Adobe Systems is a buy. buy…