'Adobe Gives Up on Web-Design Product to Rival Figma After Deal Collapse' -Bloomberg Report
Portfolio Pulse from Benzinga Newsdesk
Adobe Systems Incorporated has decided to discontinue investment in its XD web-design program following the collapse of its deal to acquire Figma, a rival design software company. Adobe will now focus on delivering future product design features through partnerships rather than in-house development.
January 30, 2024 | 7:38 pm
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Adobe's decision to stop investing in the XD program and pivot to partnerships for future design features may impact investor sentiment and the company's competitive position in the design software market.
Adobe's cessation of investment in XD could be seen as a retreat from direct competition with Figma, potentially affecting Adobe's market share and growth prospects in the design tool segment. This strategic shift may concern investors about Adobe's ability to innovate independently, possibly leading to a short-term negative impact on the stock price.
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