Adobe and Figma abandon $20 billion deal due to regulatory opposition
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Today, December 18, American software developer Adobe stated, that he agreed with the Figma design service to terminate the deal. The statement said that the parties made this decision because they did not see “clear paths to obtaining regulatory approval from the EU authorities and the UK Competition and Markets Authority” (CMA). Adobe must pay Figma $1 billion to terminate the deal.
Adobe and Figma Deal about the deal in September last year. Adobe was to pay $20 billion, which would be the largest deal in the company’s history. However, regulators any questions to this deal. The European Commission and CMA considered that the merger would hinder competition, could lead to higher prices in the market and reduce the pace of innovation. Both regulators issued statements about this in November.
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