Adobe on Monday shelved its $20-billion cash-and-stock deal for cloud-based designer platform Figma.
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Photoshop maker Adobe’s co-founder, John Warnock, died on Saturday aged 82, the company said in a statement.
Investors have argued that Adobe overpaid for a company that was valued at about $10-billion in a private fundraising a little over a year ago.
Adobe has given a bullish sales forecast for next year, signalling the software maker’s expanding product suite will continue to attract customers.
Adobe Systems, the maker of Photoshop, gave a sales forecast that topped analysts’ average estimate, signalling that strong demand for its creative products continue to drive growth.