Figma reviewing EU’s statement of objections for Adobe deal
2023.11.17 17:14
© Reuters. Adobe logo is displayed on a smartphone screen in front of a stock graph in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Cloud-based designer platform Figma said on Friday it had received the European Commission’s statement of objections related to its proposed $20 billion buyout by Adobe (NASDAQ:), adding that it was “reviewing it carefully”.
The EU agency had in August opened a full-scale investigation into Adobe’s proposed acquisition of Figma, saying that it could reduce competition in global markets for interactive product design tools and shut out rivals.
The European Commission said it has informed Adobe of its preliminary view and has conducted a wide-ranging investigation to understand the potential impact of the deal.
(This story has been corrected to fix the source to say Figma, not Adobe, in the headline and paragraph 1)
