Last Updated: July 04, 2023, 14:39 IST
Adobe’s acquisition of Figma is underneath scrutiny. (Reuters Photo)
EU antitrust regulators will resolve by Aug. 7 whether or not to clear Adobe’s $20 billion bid for cloudbased designer platform Figma after a preliminary evaluation, in accordance with a European Commission submitting on Monday.
BRUSSELS: EU antitrust regulators will resolve by Aug. 7 whether or not to clear Adobe’s $20 billion bid for cloud-based mostly designer platform Figma after a preliminary evaluation, in accordance with a European Commission submitting on Monday.
Photoshop maker Adobe sought EU approval final Friday. A request made a month earlier than the summer time holidays suggests the corporate expects the EU competitors enforcer to open a full-scale investigation following its preliminary scrutiny.
The Commission earlier this yr warned the deal threatens to considerably have an effect on competitors out there for interactive product design and whiteboarding software program.
Figma’s net-based mostly collaborative platform for designs and brainstorming is vastly standard amongst tech corporations together with Zoom Video Communications, Airbnb and Coinbase.
Britain’s competitors watchdog on Friday gave Adobe every week to supply treatments to handle its considerations or face a deeper investigation.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed – Reuters)
