Two elite Wall Street law firms are representing Adobe Inc. in a $20 billion deal to buy Figma, a web collaboration design platform.
Lawyers at Wachtell, Lipton, Rosen & Katz are advising the software company on the transaction, Adobe said in a Thursday announcement. Skadden, Arps, Slate, Meagher & Flom attorneys are advising Adobe on the global antitrust and foreign direct investment portion of the agreement, according to the firm.
The deal would meld Adobe’s graphics editing platform Photoshop with Figma, whose design tool helps users create websites, applications, and logos. The transaction is expected to close next year, following regulatory and other clearances and the approval of Figma shareholders.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity,” Shantanu Narayen, Adobe’s chairman and CEO, said in a statement.
The deal is comprised of about half cash and half stock.
Fenwick & West advised Figma on the transaction.
To contact the reporter on this story: Elizabeth Olson at egolson1@gmail.com
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