EU launches antitrust investigation into Adobe’s $20 billion acquisition of Figma
European antitrust authorities are planning to launch a formal investigation into the deal between software giant Adobe and cloud-based design platform Figma, the Financial Times reports. The investigation, which could last for several months, threatens to cancel the $20 billion deal.
This move by the EU reflects the growing concern of regulators about the possible suppression of competition by large technology companies that are taking over less innovative competitors. In a statement sent to Reuters, Adobe noted that it is in the early stages of regulation and is having constructive discussions with regulators in the UK, EU, and US, while Figma expects negotiations to continue.
Earlier, the British competition regulator announced that it was reviewing the deal between Adobe and Figma, and the US Department of Justice is already preparing an antitrust lawsuit to block it.
Founded in 2012, Figma is a popular cloud-based platform for interface development and prototyping, especially in the context of remote work, which has gained popularity during the pandemic. Figma’s clients include such IT giants as Airbnb, Google, Netflix, and Twitter. Over the past few years, Figma has become a serious competitor to Adobe XD, a service that also offers opportunities for UI/UX design.
