Adobe and Figma’s $20 billion deal could hurt innovation – CMA
The UK’s Competition and Markets Authority (CMA) is concerned about a potential $20 billion deal between Adobe and Figma, reports Reuters.
The regulator believes that the possible acquisition could harm innovation in the software used by the vast majority of British digital designers.
The CMA published the preliminary conclusion as part of an investigation that has been ongoing since July this year. Now they have stated that they are open to consultations with stakeholders before making a final decision.
“We are reconsidering our previous conclusions and will again address the CMA on the facts and merits of the case,” Adobe said in this regard.
Recently, Adobe received an official antitrust complaint from EU regulators regarding the possible acquisition of Figma. According to European officials, the deal could harm competition.
As it is known, Adobe announced its intentions to acquire Figma in September of 2022. Initially, the parties discussed the deal at a price of $15 billion, but eventually the official price rose to $20 billion.