Adobe's $20 billion acquisition of Figma was opposed by the EU, saying it would significantly reduce market competition

According to news from this site on November 20, EU regulators officially filed antitrust charges against Adobe and opposed its acquisition of the cloud product design platform Figma for US$20 billion (note from this site: currently about 144.4 billion yuan). The European Commission launched an in-depth investigation on August 7 and tentatively concluded on Friday that if the deal is successful, may "significantly reduce" the global market for interactive product design tools, vector editing tools and raster editing tools compete.

The European Commission issued a statement of dissent reflecting its competition concerns. The statement stressed that EU officials believed that Figma had had a "significant constraining impact" on Adobe's Illustrator and Photoshop editing tools and that in the absence of a merger it was "highly likely" that Figma would dominate the market for vector and raster editing tools. Become a competitive force.

The statement of objections does not prejudge the outcome of the EU investigation, which still has a deadline of February 5. Adobe and Figma can now respond to objections in writing, offer concessions that address the commission's specific regulatory concerns, and request a hearing after which the commission will decide whether the acquisition violates antitrust laws.

In a statement to Bloomberg, an Adobe spokesperson said: “We remain confident in our transaction because Figma is an adjacent area of ​​product design to Adobe’s core creative products, and Adobe does not There are no plans to meaningfully compete in product design." A spokesperson for Figma also told Bloomberg: "We feel confident that we have addressed the regulators' concerns and will continue to have constructive conversations focused on this transaction. The deal will bring benefits to consumers and Europe's innovation economy."

So far, neither Adobe nor Figma has offered any remedies to address antitrust concerns raised by the investigation. After announcing the deal earlier this year, Adobe began phasing out Adobe XD, its UX/UI product design app similar to Figma. The Commission now claims that phasing out Adobe The Competition and Markets Authority is launching a similar in-depth investigation into the deal, and the U.S. Department of Justice is also rumored to be preparing antitrust proceedings to prevent the deal from happening

Advertising Statement: The article contains external jumps Redirect links (including but not limited to hyperlinks, QR codes, passwords, etc.) are used to convey more information and save selection time. The results are for reference only. All articles on this site include this statement.

The above is the detailed content of Adobe's $20 billion acquisition of Figma was opposed by the EU, saying it would significantly reduce market competition. For more information, please follow other related articles on the PHP Chinese website!