Photoshop maker Adobe Inc said on Thursday it would buy Figma in a cash-and-stock deal that valued the online design startup at about $20 billion.
Shares of Adobe, which had cash and cash equivalents of $3.87 billion as of Sept. 2, were down nearly 8% in premarket trading.
The company also reported its earnings on Thursday, with its fourth-quarter revenue forecast of $4.52 billion coming in below the $4.58 billion estimated by analysts, according to Refinitiv data.
Read more: Reuters
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