Investing
UK watchdog investigates Adobe’s $20 billion acquisition of Figma
© Reuters. UK watchdog investigates Adobe’s $20 billion acquisition of Figma
The UK’s competition watchdog said it is investigating Adobe Systems Incorporated (NASDAQ:)’s $20 billion acquisition of Figma, announced in September 2022, to determine if it could result in a significant reduction in competition in the country.
The UK Competition and Markets Authority (CMA), which blocked Microsoft Corporation (NASDAQ:)’s $69B acquisition of Activision Blizzard Inc (NASDAQ:) last week, has set a deadline of June 30 for its phase 1 decision on the Adobe-Figma deal.
Adobe expressed its anticipation to continue engaging with the DOJ (U.S. Department of Justice), CMA, and EC (European Commission) in constructive discussions regarding the economic impacts of the deal. Figma has also stated that it will continue to collaborate constructively with UK regulators.
By Davit Kirakosyan
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