Adobe Drops Figma Acquisition, Announces VP Vestager
Summary
Executive Vice-President Margrethe Vestager, in charge of competition policy, said: "Adobe and Figma are both leading global software companies. Adobe and Figma compete today in the market for interactive product design software. By combining these two companies, the proposed acquisition would have terminated all current and prevented all future competition between them. Our in-depth investigation showed that this would lead to higher prices, reduced quality or less choice for customers. It is important in digital markets, as well as in more traditional industries, to not only look at current overlaps but to also protect future competition.
Classifications
industries
Media and Publishing
applications
Financial Reporting
AskAI Classifications
Labels
SaaS
Collaboration Software
Design Software
Linked Companies
Figma
$1M to $5M