US software company Adobe’s attempt to acquire online design development platform Figma has been delayed indefinitely. According to the Financial Times report, the European Union will conduct a detailed investigation into the multibillion-dollar purchase agreement.It is reported that the European Commission will launch a formal investigation and examine the merger terms in more detail. There is also the possibility that the purchase will not be approved. The regulator is concerned that the deal could result in consolidation of the digital design market, slowing innovation and rising prices.
Adobe thinks it won’t hurt competition
Financial Times sources say the review is likely to stretch out over a fairly long period of time. The Adobe side says its acquisition of Figma will not harm competition, as Figma is not a direct competitor to any of its core products.
As you may recall, Adobe announced in September of last year that it would buy Figma for $20 billion. If completed successfully, this acquisition will be recorded as the largest deal in Adobe history. We will see together how the process will progress.
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