Adobeone of the biggest competitors on the market Figma He rolled up his sleeves to buy it. from the company 20 billion dollars The offer was also accepted by Figma. In particular, the European Union and the United Kingdom have investigated this acquisition in terms of antitrust law and have not yet approved it. Frustrated by this situation, the two companies announced that they were terminating the agreement.

Figma gets $1 billion for not selling

With the withdrawal of the agreement, Figma $1 billion He was also entitled to the contract termination compensation. President and CEO of Adobe released a statement Shantanu Narayen, “Adobe and Fgma strongly disagree with the regulators’ latest findings, but we believe it is in our best interests to move forward independently.” he said.

“Adobe and Figma share a vision to shape the future of creativity and productivity together.” However, Narayen said the huge market lies ahead of their well-positioned businesses for opportunities He emphasized that they will focus on this

The deal was not approved due to competition concerns

Supervisory authorities, Adobe design software almost on the market in case of monopoly He postponed the agreement, stating that there was a problem and that it would harm competition. Fearing that possible innovations in this area would be harmed if Figma, which is currently in a better situation than Adobe’s XD platform, were transferred to Adobe, the EU and UK authorities extended the approval process of the agreement. On December 14, Adobe released a statement about the deal. UK Competition and Markets AuthorityHe rejected the solutions offered by to implement the agreement in a manner that would not fall within the scope of antitrust.

CEO of Figma Dylan field He stated that this was not the outcome they expected, but after thousands of hours of research, they now find it impossible to realize the agreement.