Adobe's $20 Billion Purchase of Figma Would Harm Innovation, UK Regulator Provisionally Finds
28 November 2023 - 11:39PM
Dow Jones News
By Joe Hoppe
The U.K. Competition and Markets Authority said it has
provisionally found Adobe's planned $20 billion acquisition of
collaboration-software company Figma would likely harm innovation
for software used by the vast majority of U.K. digital
designers.
The regulator said Tuesday that, following a detailed Phase 2
investigation, it provisionally found the deal would eliminate
competition between two main competitors in product-design
software, reduce innovation and the development of new competitive
products, and remove Figma as a threat to Adobe's flagship
Photoshop and Illustrator products.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
November 28, 2023 07:24 ET (12:24 GMT)
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