Adobe gives up on $20 billion acquisition of Figma
by Financial Times from Ars Technica - All content on (#6H7NX)
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Adobe has abandoned its proposed $20 billion acquisition of product design software company Figma, as there was no clear path to receive necessary regulatory approvals" from UK and EU watchdogs.
The deal had faced probes from both the UK and EU competition regulators for fears it would have an impact on the product design, image editing, and illustration markets.
Adobe refused to offer remedies to satisfy the UK Competition and Markets Authority's concerns last week, according to a document published by the regulator on Monday, arguing that a divestment would be wholly disproportionate."