Figma’s C.E.O. Laments Demise of $20 Billion Deal With Adobe

▤ Summary

Among the several deals that have fallen apart recently, Adobe’s $20 billion takeover of Figma, an upstart design software maker, is among the most instructive. To Dylan Field, Figma’s chief executive, that contrast underscored a fundamental divide between how businesses and regulators think of competition. “It’s frustrating and sad that we’re not able to complete this,” Mr. Field said in his first interview since companies announced its demise on Monday. Both the European Commission and Britain’s Competition and Markets Authority were preparing to formally challenge the transaction. The Justice Department — which met with Adobe and Figma representatives last week — had been weighing whether to oppose it as well.

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Figma

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