https://techcrunch.com/2022/09/16/adobe-makes-20b-bet-on-a-collaborative-future-with-figma-acquisition/

Prior to announcing its intent to buy Figma for $20 billion on Thursday, Adobe’s largest deal was its $4.75 billion Marketo acquisition in 2018.

Why go so far outside of its pricing comfort zone and pay twice as much as Figma’s most recent private valuation? The easy answer is that it’s about taking a potential rival off the market. Yes, Adobe XD is a similar product, but there could be more to this deal than simply playing defense.