Adobe and Figma Set to Terminate $20B Acquisition Deal amid Regulatory Issues
Coinspeaker
Adobe and Figma Set to Terminate $20B Acquisition Deal amid Regulatory Issues
Today it has been announced that Adobe will reject plans to acquire the cloud-based designer platform Figma. It was expected to be a $20 billion cash-and-stock deal.
This decision has been taken amid regulatory pushback in Europe and the UK. Figma CEO and co-founder Dylan Field named it the “joint decision” of both parties for this potential deal.
“It’s not the outcome we had hoped for, but despite thousands of hours spent with regulators around the world detailing differences between our businesses, our products, and the markets we serve, we no longer see a path toward regulatory approval of the deal,” wrote he.
More details will be added soon.
Adobe and Figma Set to Terminate $20B Acquisition Deal amid Regulatory Issues