Adobe Receives US Justice Request for More Data on Figma Deal
Summary
Adobe, the top maker of creative software for design professionals, is looking to expand its web-based offerings to make inroads with nonprofessional customers and small businesses. The Justice Department on Monday asked Adobe and Figma to provide additional information on the deal, known as a second request, the companies said in a regulatory filing. The action means regulatory approval for the deal can’t come until at least 30 days after Adobe and Figma fulfill the request, the DOJ ends its review, or the parties agree to an extension, the companies said. Bloomberg earlier this month reported that the Justice Department had initiated an antitrust investigation of the proposed acquisition, according to people familiar with the issue. Wall Street analysts criticized the purchase price and investors also seem skeptical, sending Adobe’s shares down 9% since the announcement and 40% for the year.
