Adobe’s $20 bn Figma acquisition under lens in EU: Report

London, June 20 : Software major Adodes $20 billion acquisition of cloud-based designer platform Figma is reportedly under scrutiny by the antitrust regulators in the European Union, the media reported on Tuesday.

The EU regulators are preparing to launch a formal investigation into the acquisition, reports the Financial Times.

The UKs competition watchdog is also looking into the Adobe-Figma deal.Adobe is already discussing the acquisition with regulators in the UK, EU, and the US.In September last year, Adobe announced it would acquire design software company Figma for about $20 billion in a cash and stock deal.Founded by Dylan Field and Evan Wallace in 2012, Figma pioneered product design on the web.The combination of Adobe and Figma will usher in a new era of collaborative creativity."The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity," said Shantanu Narayen, Chairman and CEO, Adobe.Figma has a total addressable market of $16.5 billion by 2025.The company is expected to add approximately $200 million in net new ARR this year, surpassing $400 million in total ARR exiting 2022.

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