• Latest
  • Trending
Adobe cancel $20B plan acquisition of Figma

Adobe cancel $20B plan acquisition of Figma

December 22, 2023
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

September 25, 2025
Airtel Africa invests in education with 100 scholarships and new tech hubs

Airtel Africa invests in education with 100 scholarships and new tech hubs

September 25, 2025
SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

September 25, 2025
Tango Brook launches digital card for fuel management

Tango Brook launches digital card for fuel management

September 25, 2025
AI in Nigeria announces 3rd edition of InnovationAI

AI in Nigeria announces 3rd edition of InnovationAI

September 25, 2025
Interswitch Unveils Quickteller Travel to Transform African Travel Experience

Interswitch Unveils Quickteller Travel to Transform African Travel Experience

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

Adobe cancel $20B plan acquisition of Figma

Modupeoluwa Olalere by Modupeoluwa Olalere
December 22, 2023
140 10
0
Adobe cancel $20B plan acquisition of Figma
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Adobe‘s $20 billion mega-bid to buy rival Figma has been officially put on hold after the companies said today that regulatory pushback in Europe had made them cancel the plans.

Adobe and Figma still believe in the merger’s procompetitive benefits, according to a press release. Both parties discontinued the arrangement because they believed the European Commission and U.K. Competition and Markets Authority clearances were unclear.

Last September, the deal was announced. Because it was so enormous and eliminated Adobe’s most prominent opponent, regulators would always watch it. The DOJ had monitored the agreement for most of 2023 but had not yet sued to block it. Before the weekend, Adobe and Figma were meeting with the DOJ to avoid legal action.

In Europe, the two corporations were already struggling regardless of the decision. After the EU declared a similar course of action in August, the U.K. concluded in late November that the proposed acquisition would “harm innovation” and initiate an in-depth probe.

RelatedPosts

Adobe launches Photoshop beta app, delivering desktop power to Android creators

Adobe enables simultaneous editing in Photoshop

Unleash Your creativity: Adobe Firefly AI transforms Premiere Pro for Video Pros

Read also: HUGO BOSS And Adobe Partner To Drive 3D Innovation In Fashion

Effective rival

Despite their differences, Figma was the “clear market leader” for interactive product design tools and a “constraining influence” over Adobe in the digital asset creation tools space, so Adobe buying Figma would prevent Figma from being an “effective competitor.”

In a blog post, Figma CEO and co-founder Dylan Field claimed they made the “joint decision” after trying to convince regulators of their product and business differences.

After spending thousands of hours with regulators worldwide describing how our businesses, products, and markets differ, Field said, “We no longer see a path towards regulatory approval of the deal.”

After everything, Adobe must pay Figma $1 billion to terminate. This was due if the merger didn’t gain regulatory permission or close within 18 months of last September’s purchase announcement.

Mastercard and Meta Partner with Adobe for Digital Creative Solutions

No regulatory organisation had released their final results within the 18-month deadline. Adobe and Figma couldn’t see a way out, and with the DOJ mulling regulatory action, it made more sense to cancel the agreement.

Toby Smith, a former CMA legal director and Geradin Partners partner in London, told reporters, “It is not uncommon to back out of a deal right before the final decision when a ban seems inevitable.” 

The merging parties won’t make a wrong choice that sets a bad example. It saves on legal fees, although that may not matter on such a momentous day.

Tags: AdobeFigma
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.