Last Updated: June 20, 2023, 11:29 IST
Adobe’s acquisition of Figma is beneath scrutiny. (Reuters Photo)
European antitrust regulators are getting ready to launch a proper investigation into software program large Adobe’s $20 billion buyout deal for cloudbased designer platform Figma later this 12 months, the Financial Times reported on Tuesday.
European antitrust regulators are getting ready to launch a proper investigation into software program large Adobe’s $20 billion buyout deal for cloud-based mostly designer platform Figma later this 12 months, the Financial Times reported on Tuesday.
EU authorities plan to push ahead with an in depth investigation, over anti-competitors issues, which might take many months and will finally derail the deal altogether, FT stated, citing individuals with information of the transfer.
The report comes after Britain’s competitors watchdog stated final month that it was trying into the Adobe-Figma deal, whereas Bloomberg reported in February that the U.S. Justice Department was getting ready an antitrust lawsuit to dam the deal.
These strikes underline international regulators’ worries that giant tech corporations buying smaller modern rivals might throttle competitors.
EU regulators have earlier stated that Adobe would wish to safe European Union antitrust approval for the Figma deal although the deal falls wanting the EU turnover threshold for a evaluate.
Adobe continues to be in preliminary phases of the regulatory course of and having constructive discussions with the Britain, EU and U.S. regulators in regards to the deal, it stated in an emailed assertion to Reuters.
Figma didn’t instantly reply to Reuters’ request for remark.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – Reuters)
