© Reuters. The Adobe logo is seen on a smartphone screen in front of a stock chart in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Figma said on Friday it was carefully reviewing the EU competition watchdog’s statement of objections related to Photoshop maker Adobe’s proposed $20 billion bid to buy the platform. cloud-based design.
The EU agency in August opened a full-scale investigation into Adobe’s proposal to buy Figma, saying it could reduce competition in global markets for interactive product design tools and exclude rivals.
Adobe’s proposal comes amid increased regulatory scrutiny around the world over big technology acquisitions that increase the market power of dominant companies or those involving startups seen as nascent rivals.
The European Commission said in a statement on Friday that it informed Adobe of its preliminary opinion and carried out a wide-ranging investigation to understand the potential impact of the deal.
The transaction could create a dominant player in interactive product design tools by combining Figma, a clear market leader, and one of its biggest competitors, Adobe, the commission said.
The San Francisco-based collaborative web platform Figma for designs and brainstorming is used by technology companies such as Zoom Video Communications (NASDAQ:), Airbnb and Coinbase (NASDAQ:)
Figma said it would continue to engage in constructive conversations focused on the benefits of its deal with Adobe.
Adobe’s top lawyer, Dana Rao, told Reuters on Wednesday that the company is open to proposing solutions to resolve regulatory concerns.
Britain’s competition regulator is also carrying out an in-depth investigation into the deal.
