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Adobe and Figma Mutually Agree to Terminate Merger Agreement
This is IMHO great news for Adobe Creative Cloud users 🤩, although not splashed across the bigger news outlets, yet.
Note how 20 Billion Dollar Adobe purchase of Figma is now touted by Adobe to be a failed Merger!?
This is what Figma’s VP Brendan Mulligan wrote back in September 2022:
What you need to know about Figma and our shared future with Adobe.
On September 15, 2022, we announced that Figma entered an agreement to be acquired by Adobe, our biggest collaboration yet. A little over a year later, Figma’s Vice President of Legal, Brendan Mulligan, shares his thoughts on the deal, why it’s a win for consumers, and the road ahead.
This “merger” would never be good for Creative Cloud users, as Adobe would get even busier with milking money to pay for Figma as fast as possible, rather than innovating.
Maybe, just maybe, Adobe can get back to the legacy of what Adobe used to do best, which is innovation. And, there should be a lot of cash left in the Adobe bank vault for both investors, and to make users happy again. For accuracy, I come from the Premiere Pro angle, and we have seen every other Adobe editing tool from consumer to pro-sumer, getting a lot more love than the professional tools – in my opinion.
Please feel free to disagree, or comment, as I might never be wrong, but that does not mean that I am right. 😀
Atb
Madsnews.adobe.com
Adobe and Figma Mutually Agree to Terminate Merger Agreement
Today, Adobe (Nasdaq:ADBE) and Figma announced that they have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on September 15, 2022, under which Adobe would have acquired Figma for a mix of cash and … Continue reading
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UPDATE:
This is a lot of dough to flush down the drain:Adobe will pay a termination fee of $1 billion to San Francisco-based Figma, whose web-based collaborative platform for designs and brainstorming is used by Uber, Coinbase, Zoom Video Communications and many other firms.
Although according to Reuters, the Adobe shares rose about 1% on the announcement...
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When Adobe added the “Pro” to Adobe Premiere at NAB in September of 2003 (yes, I’m that old), version 1.0 had no ability to import or export EDLs. I knew right then that Adobe never intended Premiere Pro to be used by actual professionals and it was nothing but a marketing ploy.
They did add mediocre EDL import and export capabilities in version 1.5, but still never took it seriously (meaning, making it actually usable in a professional environment) until 2019 when they actually implemented fixes to the hobbled ability to export an EDL.
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