Adobe slips on report saying DOJ plans suit to block $20 billion Figma deal
Publishing timestamp: 2023-02-23 18:03:20
Summary
The US Justice Department is reportedly planning to file a lawsuit to block Adobe's $20 billion acquisition of startup Figma. Adobe shares fell as much as 5% in extended trading following the report. Adobe has said that the deal would help spur fast growth to its portfolio and pick up technology that could enhance existing programs in Creative Cloud bundle. The Justice Department is currently examining the deal and Adobe still expects to close the Figma deal in 2023.
Sentiment: NEGATIVE
Keywords: business, microsoft corp, united states, technology, breaking news: technology, activision blizzard inc, business news, enterprise, adobe inc.,