Fortune Sky is Your Go-to Source for the Latest Finance News, Covering Markets, Business, Industries and Internet.
⎯ 《 Fortune • Sky 》

Adobe reviewing EU's statement of objections for Figma deal

2023-11-18 05:19
(Reuters) -Adobe said on Friday it has received the European Commission's statement of objections related to its $20 billion bid
Adobe reviewing EU's statement of objections for Figma deal

(Reuters) -Adobe said on Friday it has received the European Commission's statement of objections related to its $20 billion bid for cloud-based designer platform Figma and was "reviewing it carefully".

The EU agency had in August opened a full-scale investigation into Adobe's proposed acquisition of Figma, saying that it could reduce competition in global markets for interactive product design tools and shut out rivals.

The European Commission said it has informed Adobe of its preliminary view and has conducted a wide-ranging investigation to understand the potential impact of the deal.

(Reporting by Bhanvi Satija in Bengaluru; Editing by Shilpi Majumdar)