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11/28/2023, 1:14 PM (Source: TeleTrader)
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UK voices competition concerns over Adobe-Figma merger

The United Kingdom Competition and Markets Authority (CMA) said on Tuesday that its provisional investigation found that the proposed $20 billion merger between Adobe Inc. and Figma Inc. raises competition concerns.

The CMA noted the merger could be expected to result in "a substantial lessening of competition" in the global markets for design software, vector editing software and raster editing software, but noted it is not expected to harm competition in video editing software and motion design software.

The regulator gave the companies a deadline of December 19 to respond to the findings, stressing they have until December 12 to suggest possible remedies.

Baha Breaking News (BBN) / NP