Adobe’s shares are down 22% since the deal became public, more than three times the decline in the broad-based S&P 500. Still, Wall Street has panned the acquisition as too expensive and revealing stronger competitive pressures than previously appreciated. Adobe has said the deal is expected to close sometime in 2023, subject to regulatory approvals. The integration of design tool Figma could help “modernise the entire Creative Cloud product portfolio over the next three to five years,” wrote Piper Sandler analyst Brent Bracelin in a note on Monday. “There’s no friction when you can just click and be in a Web app in seconds.” The integration of Figma could help modernise the entire Creative Cloud portfolio over the next three to five yearsīrowser-based products are crucial to Adobe’s efforts to pick up new customers, chief product officer Scott Belsky said in an interview. Adobe has responded with updates to its line of desktop creative tools and the introduction of a slimmed-down online Photoshop and Adobe Express, a Web-based service that looks more like Canva than other Adobe products on the desktop.

The updates introduced on Tuesday at Adobe’s annual product conference symbolise the company’s efforts to streamline its offerings as smaller rivals like Figma and Canva threaten the software juggernaut’s market dominance. Last month, Adobe announced it would buy Figma to try to capture some of the small businesses, social media creators and non-professionals who have flocked to the upstart maker of Web-based design tools. Photoshop, the company’s flagship image editing product, will add more collaboration tools, artificial intelligence features and Web capability as the creative giant aims to update its software portfolio for a younger and more casual audience. Adobe is tweaking its most famous product to work more like the design tool it committed US$20-billion to acquire.

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