Adobe Figma Deal on Hold

The $20 billion acquisition of Figma by Adobe may be put to an end as the UK competition regulator opened a probe into the deal nearly nine months after its announcement.

The Competition Markets Authority is the first regulatory body to take an interest in the deal, however, it is likely that U.S. and Brussels’ regulators will follow suit shortly.

Adobe originally announced its intentions of acquiring the San-Francisco-based Figma last September and stated that the $20 billion value was double what Figma was valued at back in 2021. Adobe also announced that it looked forward to “continuing to engage with the Department of Justice, CMA, and European Commission in productive discussions about the businesses, markets, and positive economic impacts this deal will bring as they conduct their reviews”.

This is not the first time that the Competition Market Authority has put a hold on big acquisitions as the regulator was a big player in blocking the Microsoft and Activision Blizzard deal.

Source: Wall Street Journal