adobe figma deal

Adobe Inc. will end its effort to create a web design product to rival Figma Inc. after the collapse of its proposed $20 billion acquisition of the startup.When it agreed to buy Figma, which helps users design app and website interfaces, Adobe put its competing program XD in “maintenance mode,” ceasing to launch new features or sell it individually. The deal to purchase Figma fell apart under regulatory pressure in December and the creative software giant hadn't announced whether it would resurrect XD or attempt to build…

Adobe Inc. walked away from its $20 billion acquisition of startup Figma Inc. after clashing with regulators in Europe and the UK. Adobe will pay Figma a $1 billion termination fee, the companies said in a statement on Monday. They saw “no clear path” to getting regulatory approvals from the European Commission and the UK's Competition and Markets Authority.  Adobe, the dominant force for years in such creative software as Photoshop and Illustrator, announced the purchase of Figma in September 2022.  The acquisition,…

Photoshop maker Adobe expects to get an EU antitrust warning on its $20 billion bid for cloud-based designer platform Figma and is open to proposing remedies to resolve regulatory concerns, its chief counsel told Reuters on Wednesday."We are expecting a statement of objections from the European Commission," Dana Rao said in an interview.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM LucknowIIML Executive…

Adobe's $20 billion (roughly Rs. 1,63,400 crore) bid for cloud-based designer platform Figma will face a full-scale EU antitrust investigation following EU regulators' preliminary review, people familiar with the matter said on Monday.The move underscores antitrust watchdogs' wariness of tech deals where bigger companies may acquire rival start-ups to shut them down.An Adobe spokesperson declined to comment on the EU review. The spokesperson said: "We continue to have productive conversations with regulatory bodies…

The U.S. Justice Department is preparing an antitrust lawsuit to block software maker Adobe Inc's $20 billion bid for cloud-based designer platform Figma, Bloomberg News reported on Thursday, citing people familiar with the matter.The lawsuit could come as early as next month, Bloomberg reported.Responding to the report, Adobe said it and Figma were in different product areas, with Figma focusing on interactive designs. "We are engaged in constructive and cooperative discussions with regulators in the US, UK and EU among…

Adobe Inc will need to secure European Union antitrust approval for its $20 billion bid for cloud-based designer platform Figma even though the deal falls short of the EU turnover threshold for a review, EU regulators said on Wednesday. The move by the European Commission underlines regulators' worries on Big Tech acquiring smaller innovative rivals and the impact on competition. The EU competition enforcer said Austria, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy,…

Adobe is reportedly closing a deal to acquire Figma, a US-based startup that makes online design collaboration tools. As per reports, the deal could be closed for about $20 billion as Adobe is looking to expand its portfolio of collaboration-focused platforms geared for the hybrid-work era. The premier software firm has been increasingly focusing on venturing into the collaboration tools space. Figma has also revealed that Adobe will keep Figma operating autonomously. Dylan Field, the current CEO of Figma, will continue…

Adobe is nearly closing a deal to acquire Figma, a US-based startup that makes online design collaboration tools. As per reports, the deal could be closed for about $20 billion as Adobe is looking to expand its portfolio of collaboration-focused platforms geared for the hybrid-work era. The premier software firm has been increasingly focusing on venturing into the collaboration tools space. Figma has also revealed that Adobe will keep Figma operating autonomously. Dylan Field, the current CEO of Figma, will continue to…