this post was submitted on 18 Dec 2023
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Adobe abandons $20 billion acquisition of Figma (www.theverge.com)
submitted 11 months ago by throws_lemy@lemmy.nz to c/technology@lemmy.world
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[–] TheGrandNagus@lemmy.world 65 points 11 months ago

In a letter dated December 14th, Adobe rejected remedies suggested by the UK’s Competition and Markets Authority (CMA) to approve the merger following an in-depth antitrust probe. The authority wanted Adobe to make a significant divestment of assets, source code, and engineers to “restore the conditions of competition.” All parties were expected to discuss the CMA’s provisional decision to block the deal on December 21st, with a final deadline to approve or block the acquisition set for February 25th.

Based CMA