The European Commission has opened an in-depth investigation into the $20 Billion deal between Adobe and Figma.
Adobe has announced that it would be taking possession of Figma for the price of $20 Billion. This announcement was made in 2022 december and led to loads of questions, the main reason being that wall street thought that Figma was being overpriced.
Now the EU has launched the investigation on the grounds that Adobe’s product design platform, Adobe XD was very similar to Figma’s platform. EU thinks that Adobe's acquisition of Figma would affect the market of interactive product design by lowering the competition significantly. EU stated, “(the deal could) reduce competition in the global markets for the supply of interactive product design software and for digital asset creation tools.”
Now the EU has until the 14th of December to work on this investigation. Although the deal for Adoone and Figma could still go through the chances seem unlikely.
© Vygr Media Private Limited 2023. All Rights Reserved.
