Adobe, Figma Agree to $20 Billion to Face Full EU Antitrust Investigations After Preliminary Investigation

Adobe seeks $20 billion (roughly Rs. 1,63,400 crore) to develop cloud computing platform Picture they will face any problem EU The antitrust investigation follows a preliminary review by EU regulators, people familiar with the matter said on Monday.

The move underscores the wariness of managers who are not aligned with technologies where large companies may find startups to shut them down.

An Adobe The spokesman declined to comment on the EU. The spokesperson said: “We continue to have positive discussions with regulatory bodies around the world. We are excited about the value Adobe and Figma will bring to customers by making product design easier and more efficient.”

The European Commission He declined to comment.

The European Commission earlier this year warned of the threat that the deal could pose to competition in the market for integrated software and whiteboard software. The EU’s competition authorities plan to complete its review by August 7.

Figma’s Web-based collaborative platform for designs and brainstorming is very popular among technology companies including. Zoom Video Communications, Airbnb and Coinbase.

Earlier this month, Britain’s antitrust regulator he announced Adobe’s $20 billion (approx. Rs. 1,63,400 crore) investment to develop cloud-based platform Figma, after Photoshop the owner said that it does not provide any support to ease the concerns of the regulators.

The Competition and Markets Authority (Price CMA) said at the end of last month that they found that the agreement could lead to less choice for the developers of digital software, websites and other products, and they recognized concerns about the provision of software for photography software, where companies compete.

It gave Adobe five working days to submit proposals to address its concerns. But on July 7, the US company informed the CMA that it would not provide any services, the CMA said.

© Thomson Reuters 2023

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