UK says Adobe’s $20B deal for Figma would hurt graphic design market

The UK competition authority has objected to Adobe’s proposed $20 billion acquisition of cloud-based design company Figma, on grounds that it might stifle innovation.

According to the results of an investigation by the Competition and Markets Authority (CMA), Adobe’s refusal to provide concessions to alleviate worries about the deal has led to findings that the acquisition would eliminate competition and remove Figma as a  threat to Adobe’s main products, Photoshop and Illustrator.

Last year, Adobe revealed its intention to acquire Figma, whose  platform is designed to enable collaborative app and website design, for $20 billion. Figma is viewed as a significant competitor to Adobe in the design software arena.

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Source:: Computerworld