Adobe and Figma, the two largest online design platforms, have decided to abandon the planned 20 billion. dollar merger. The specific regulatory hurdles Adobe and Figma faced in the merger process were not disclosed in media reports. However, the companies were said to have faced claims from the European Commission and the UK’s Competition and Markets Authority.
The decision was made due to regulatory hurdles. To cancel the contract, Adobe will pay Figma 1 billion dollar withdrawal fee.
Adobe announced the intention to purchase Figma In September 2022, making a transaction worth about 20 billion. dollar. This statement caused Adobe shares fell, but the company reiterated that the acquisition would be a suitable addition to its portfolio.
2023-12-19 14:33:12
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