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Adobe abandons $20 billion acquisition of Figma (www.theverge.com)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 65 points 10 months ago

In a letter dated December 14th, Adobe rejected remedies suggested by the UK’s Competition and Markets Authority (CMA) to approve the merger following an in-depth antitrust probe. The authority wanted Adobe to make a significant divestment of assets, source code, and engineers to “restore the conditions of competition.” All parties were expected to discuss the CMA’s provisional decision to block the deal on December 21st, with a final deadline to approve or block the acquisition set for February 25th.

Based CMA