The Adobe exec behind the Figma deal expresses frustration over slow pace of regulatory approval
Publishing timestamp: 2023-10-17 17:20:24
Summary
Adobe is working to complete its $20 billion acquisition of Figma, a startup that provides online software for designing apps and websites. The acquisition has faced regulatory scrutiny from the United Kingdom's Competition and Markets Authority and other regulatory bodies. Adobe executive David Wadhwani questions whether the regulatory process for expensive technology acquisitions should take as long as it does. The article also mentions Microsoft's recent acquisition of Activision Blizzard and the regulatory challenges it faced. Adobe expects to close the Figma deal in 2023 and has agreed to pay $1 billion if the deal is rejected by regulators. Wadhwani sees Figma as an opportunity for further development of generative AI in design. The Competition and Markets Authority is investigating whether the deal would reduce competition, but Adobe argues that its XD screen-design tool still competes with Figma.
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