EU Gives Adobe Until End of June to Finalize $20 Billion Acquisition of Figma
The European Commission filing on Monday states that EU antitrust regulators will make a decision on whether to approve Adobe’s $20 billion acquisition of cloud-based designer platform Figma by August 7, following a preliminary review.
Photoshop maker Adobe applied for EU approval last Friday. The request, made a month before the summer holidays, suggests that the company expects the EU’s competition authority to launch a full-scale investigation after a preliminary review.
The Commission warned earlier this year that the deal threatens to significantly affect competition in the market for interactive product design and whiteboard software.
Figma’s web-based design and brainstorming platform is extremely popular with tech companies such as Zoom Video Communications, Airbnb and Coinbase.
Britain’s competition watchdog gave Adobe a week on Friday to offer remedies to the concerns or a deeper investigation.
