Adobe and collaborative interface design tool provider Figma will not complete their planned $20 billion merger, as pressure from US and European regulators made the deal’s path to completion too treacherous.
The companies, in a joint statement issued Monday, said that the deal would have been a boon to both parties, but that the regulatory climate made it impossible.
“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe chair and CEO Shantanu Narayen. “While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”
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Adobe and collaborative interface design tool provider Figma will not complete their planned $20 billion merger, as pressure from US and European regulators made the deal’s path to completion too treacherous.The companies, in a joint statement issued Monday, said that the deal would have been a boon to both parties, but that the regulatory climate made it impossible.“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe chair and CEO Shantanu Narayen. “While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”To read this article in full, please click here Read More Computerworld
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