Adobe in hot waters over Figma acquisition
According to Politico’s claim on Wednesday, which was based on interviews with four people with knowledge of the situation and a document it viewed, the US Department of Justice (DoJ) is getting ready to launch an inquiry into Adobe’s $20 billion acquisition of Figma.
According to the article, the DoJ has recently been contacting Adobe and Figma’s clients and rivals as well as Figma’s venture capital investors.
Adobe issued a comment via email that read, “Adobe and Figma currently are not serious rivals.”
The business continued, “We intend to consummate the acquisition in 2023 and are engaged in fruitful conversations with regulators to ensure they have a complete understanding of the combination.”
Requests for comment from Figma and the DoJ were not immediately entertained.
Investors were concerned about Adobe’s $20 billion offer for Figma because of the high price the company was paying for the well-liked cloud-based design platform used by digital companies like Airbnb and Zoom Video Communications.
According to Politico, the investigation’s precise timeframe is unknown, and the corporations are still in the legally required review period.