The EU will assess the Figma buyout
Anti-trust regulators in the European Commission are going to assess Adobe’s recent decision to acquire design rival Figma to see if it would decrease competition.
Adobe announced the beginning of a “definitive merger agreement to acquire Figma,” in September for approximately $20 billion in stock and cash. Figma’s creators would join Adobe, and the deal was expected to clear the regulatory approval process in 2023.
The Commission says that the transaction doesn’t reach the financial turnover thresholds set out in the EU merger regulations. As a result, the two companies weren’t required to notify European regulators.
Austria, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, and Sweden were among the countries to request that the Commission assess Adobe’s acquisition of Figma under the EU Merger Regulation.
