Europe to ‘assess’ Adobe’s proposed $20B Figma acquisition on competition grounds • TechCrunch

Adobe’s proposed plan to snap up digital design rival Figma for $5 billion has attracted the attentions of the European Commission (EC), which announced today that the proposed merger “threatens to significantly affect competition in the market for interactive product design and whiteboarding software.”

While the EC acknowledged that the transaction doesn’t meet the turnover thresholds set out in the EU merger regulations, meaning that the merging companies weren’t required to notify European regulators, there are separate provisions in Article 22 that allow member EU countries to refer specific cases to the EC if they believe that a transaction will diminish a competition in specific European markets.

As such, the EC said that it has received requests from Austria, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, and Sweden to look at the deal and determine whether there is a case to answer.

Today’s news comes some five months after news first emerged that Adobe was to buy Figma, a 10-year-old venture-backed startup behind a collaborative design platform. A deal of that size was always likely to attract regulatory scrutiny, with the U.S. Department of Justice (DoJ) already looking closely at the deal while the U.K. is also making initial enquiries.

It was widely accepted that Europe would also eventually look at the deal, particularly after Austria’s competition watchdog sought a referral for the proposed merger last month.

#Europe #assess #Adobes #proposed #20B #Figma #acquisition #competition #grounds #TechCrunch


Related Posts

The TikTok Hearing Revealed That Congress Is the Problem

In one sense, today’s US congressional hearing on TikTok was a big success: It revealed, over five hours, how desperately the United States needs national data-privacy protections—and…

Best Dyson vacuums 2023: A guide to the latest versions of cordless stick, ball, and handheld cleaners

Dyson has carved out a major position in the home tech arena. Though the name appears in categories from air purification to beauty, its expertise is the…

Twitter claims ‘legacy’ blue checkmarks will start to disappear on April Fools’ Day

Twitter has announced that it’ll start “winding down” its legacy verified program and removing “legacy verified checkmarks” starting on April 1st, and is telling users to subscribe…

Daily Crunch: In SEC filing, Accenture reveals plans to dismiss 19,000 workers over the next 18 months

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello, and welcome to…

These 4K Gaming Projectors Are Latest “Designed For Xbox” Tech

One of the biggest issues plaguing gamers is finding a projector for big screen gaming that not only performs as well as a TV, but also aesthetically…

For Smarter Robots, Just Add Humans

Teleoperating a physical robot could become an important job in future, according to Sanctuary AI, based in Vancouver, Canada. The company also believes that this might provide a way…

Leave a Reply

Your email address will not be published. Required fields are marked *