Adobe has refused to buy online designer service Figma for $20 billion, a deal that had previously been blocked by the UK Competition and Markets Authority. The department believes that the agreement will harm the software market, The Verge writes.
Adobe offered several counterarguments to the investigation. In one of them, the company noted that unapproved mergers could reduce innovation and impede the development of small businesses under the wing of larger corporations.
On September 15, Adobe announced that it was acquiring online design service Figma for $20 billion. Figma was supposed to become an “autonomous division” of Adobe (and not even report directly to its CEO).
Figma was founded by Dylan Field in 2012. An online graphic editor allows users to collaborate in real time. Figma raised $200 million in 2021 at a valuation of $10 billion.
After the start of Russia’s special operation in Ukraine, Figma froze Russian corporate accounts and suspended all sales in the country.
Author:
Karina Pardaeva
Source: RB
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