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here's your daily Here's Big B-B-Runch.

Coming up, Adobe's Big Buy, Lay Off's at Tencent, and Tic-Toc B-real clone.

Big news in the world of digital creative technology,

Adobe announced that it would acquire Figma for $20 billion,

taking out one of its biggest rivals in the realm of digital design.

In the end, Adobe confirmed the news to coincide with its quarterly earnings

which met and exceeded analysts' expectations.

Nevertheless, the company said that it might need to finance this deal with a loan,

and it provided a lukewarm outlook for the next quarter, with revenues expected to be

$4.52 billion. The acquisition is coming in the form of a deal that is half cash and half

stock, Adobe said, and it will also include 6 million additional restricted stock units

granted to Figma CEO and employees that will vest over four years

subsequent to closing. It is expected to close in 2023. Up next the first rule of conducting layoffs is to not be a jerk about it.

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