Adobe has announced that they have proposed to acquire the entire business of Figma in September 2022, at a value of $20 billion. This deal has come under scrutiny from regulatory agencies around the world, including the United Kingdom and Europe, which have expressed opposition to the deal. Additionally, the United States Department of Justice has also initiated an investigation into the matter.
As a result of this extensive scrutiny, the deal has been delayed for over a year since its announcement. Both Adobe and Figma acknowledge that there is still uncertainty surrounding the approval of the deal by regulatory agencies, prompting them to decide to cancel this acquisition deal.
Adobe has stated that moving forward, the company will explore opportunities to become partners with Figma.
TLDR: Adobe’s proposed acquisition of Figma’s business for $20 billion has faced opposition and scrutiny from global regulatory agencies, leading to the decision to cancel the deal. Adobe will now look into potential partnership opportunities with Figma.
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