The companies announced the cash-and-stock deal in September 2022, seeking a path with Figma’s web-based, multi-player capabilities to accelerate the delivery of Adobe’s creative cloud technologies on the web.
“Although both companies continue to believe in the merits and procompetitive benefits of the combination, Adobe and Figma mutually agreed to terminate the transaction based on a joint assessment that there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority,” Adobe and Figma said in a prepared statement.
The European Commission said that it was aware of the decision to terminate the deal and that its investigation into the proposed transaction had now ended.
This story is from the December 22, 2023 edition of AppleMagazine.
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This story is from the December 22, 2023 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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