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Adobe faces EU antitrust warning over Figma deal, sources say

Economic Times

Economic Times · 1y ago

Adobe faces EU antitrust warning over Figma deal, sources say

Adobe's $20 billion bid for Figma, the cloud-based designer platform, is expected to receive an EU antitrust warning, intensifying pressure on Adobe to propose remedies. The European Commission is preparing a statement of objections, expressing concerns about potential anti-competitive impacts and market power concentration. The investigation into the acquisition began in August, and the Commission is set to decide on the deal by February 5. Figma's web-based design collaboration platform is utilized by tech giants like Zoom, Airbnb, and Coinbase. Adobe and the Commission declined to comment.

Related News

Adobe, Figma to terminate $20 billion deal

Economic Times

Economic Times · 1y ago

Adobe, Figma to terminate $20 billion deal

Adobe has abandoned its $20 billion deal to acquire cloud-based design platform Figma, citing challenges in obtaining antitrust approvals in Europe and the UK. The termination of the cash-and-stock deal includes a $1 billion fee to Figma. Regulatory concerns were raised by Britain's Competition and Markets Authority (CMA), stating that the acquisition would harm innovation. Adobe disagreed with regulatory findings but decided to move forward independently. The Figma deal was a significant bet on the future of work but faced criticism over the high price tag and potential impact on Adobe's margins.

Figma confidentially files for much awaited US IPO after $20 billion Adobe deal collapse

Economic Times

Economic Times · 4m ago

Figma confidentially files for much awaited US IPO after $20 billion Adobe deal collapse

Figma has confidentially filed for a U.S. IPO after a $20 billion acquisition deal with Adobe fell through due to regulatory issues. Previously valued at $12.5 billion, the design platform is anticipated to go public following antitrust challenges in Europe and Britain. Despite current market volatility, Figma remains cash flow positive, offering design and collaboration tools to major companies like Adobe and Google. The IPO market has recently slowed due to economic uncertainties.

EU probe into Adobe, Figma deal paused, regulators await data

Economic Times

Economic Times · 1y ago

EU probe into Adobe, Figma deal paused, regulators await data

The European Union's antitrust regulators have paused their investigation into Adobe's $20 billion acquisition of cloud-based designer platform Figma. The European Commission halted the probe as they await requested information from the companies involved. The Commission invoked this procedure due to a delay in receiving essential data. A new deadline for the investigation will be set once the required information is provided. The EU competition watchdog has expressed concerns that the deal could eliminate a key rival to Adobe, potentially restricting competition in the global market for interactive product design tools.

Google to be hit with EU charges of breaching Big Tech rules, sources say

Economic Times

Economic Times · 6m ago

Google to be hit with EU charges of breaching Big Tech rules, sources say

Alphabet's Google faces EU charges over breaching Big Tech rules, as its search results changes failed to ease EU antitrust concerns. The European Commission's move follows tensions with the US, amid investigations into Google potentially favoring its services over rivals, violating the Digital Markets Act (DMA). Despite proposed changes by Google, EU regulators remain dissatisfied, with charges expected soon alongside ongoing probes into Apple and Meta.

Figma CEO Dylan Field laments demise of $20 billion deal with Adobe

Economic Times

Economic Times · 1y ago

Figma CEO Dylan Field laments demise of $20 billion deal with Adobe

Adobe's $20 billion acquisition of design software maker Figma fell apart due to regulatory concerns over competition. Figma's CEO, Dylan Field, expressed frustration over the deal's demise, highlighting a divide between business and regulatory perspectives. Antitrust enforcers in the European Commission, the UK's Competition and Markets Authority, and the US Justice Department were preparing to challenge the transaction. The regulators were concerned that the acquisition would eliminate a future competitor, similar to Facebook's purchase of Instagram. Figma is now expected to remain independent, while Adobe will have to pay a $1 billion breakup fee.

Microsoft's OpenAI partnership could face EU antitrust probe, sources say

Livemint

Livemint · 1y ago

Microsoft's OpenAI partnership could face EU antitrust probe, sources say

Microsoft's investment of $13 billion in OpenAI could face an antitrust investigation from the European Union (EU), as regulators are gathering evidence to determine if the partnership restricts competition within the EU internal market or if Microsoft's market power distorts the market through certain practices. The EU antitrust regulator has reportedly decided not to investigate the partnership under EU merger rules but may still opt for an antitrust investigation. Microsoft has a non-voting position on the OpenAI board and claims no ownership of the ChatGPT maker. The investigation is still in its early stages and no decision has been made.

Apple, Meta, Google set to face EU Digital Markets Act probes

Economic Times

Economic Times · 1y ago

Apple, Meta, Google set to face EU Digital Markets Act probes

Summary: EU antitrust regulators are set to investigate Apple, Meta Platforms, and Google under the Digital Markets Act. The European Commission is expected to announce the investigations and make decisions before the end of EU antitrust chief Margrethe Vestager's term in November, according to sources.

Figma Allows $900M Secondary Share Sale at $12.5B Value

deepnewz

deepnewz · 1y ago

Figma Allows $900M Secondary Share Sale at $12.5B Value

Figma, a collaborative online design software company, is allowing employees and early investors to sell up to $900 million in shares through a secondary offering. This comes after Adobe's acquisition proposal at a $20 billion valuation fell through. The new valuation for Figma is $12.5 billion, a 40% discount compared to the proposed Adobe deal. The tender offer is backed by Fidelity and other investors. The offering is one of the largest in recent times, and Figma's valuation is estimated to be just under $12 billion according to Canva's analysis.

Google's contemplated mega deal would prompt new fight with regulators

Economic Times

Economic Times · 1y ago

Google's contemplated mega deal would prompt new fight with regulators

Google's potential acquisition of marketing software company HubSpot could face opposition from regulators, despite experts agreeing that it would not impact competition in the customer relationship management (CRM) software sector. HubSpot, valued at $34 billion, currently holds a 4.9% market share in the CRM marketing software industry, while Salesforce and Adobe hold 15% each. Analysts believe the acquisition could benefit HubSpot by leveraging Google's resources and cloud-computing capabilities. However, experts anticipate challenges from U.S. and European antitrust regulators due to their apprehension towards large technology companies expanding through acquisitions. Google already faces antitrust challenges and would need to convince both regulators and HubSpot of the merits of the deal.

Prosus set to win EU nod for $4.74 billion Just Eat deal, sources say - The Economic Times

Economic Times

Economic Times · 26d ago

Prosus set to win EU nod for $4.74 billion Just Eat deal, sources say - The Economic Times

Prosus, majority owned by Naspers, is set to gain EU antitrust approval for its $4.7 billion bid for Just Eat Takeaway, after agreeing to reduce its stake in Delivery Hero and relinquishing its board seat. The acquisition aims to enhance Just Eat Takeaway's capabilities by leveraging Prosus' artificial intelligence assets. The deal, if approved, will establish Prosus as the fourth-largest global food delivery company, trailing Meituan, DoorDash, and Uber.

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