Adobe acquisition of Figma may be blocked by the DOJ
The U.S. Justice Department could be planning a lawsuit to block Adobe's $20 billion acquisition of Figma.
As reported by an unnamed source to Bloomberg, the U.S. Justice Department could be planning a lawsuit to block Adobe’s upcoming $20 billion acquisition of Figma, with a case coming as soon as next month. The acquisition of Figma, first announced by Adobe last September, would potentially help Adobe enhance existing programs in its Creative Cloud Bundle, among other things.
However, in addition to benefiting and growing Adobe’s catalog of services, the acquisition of Figma could potentially be viewed as Adobe taking a potential competitor off the market as well. Especially given that a large number of companies use Figma to help design apps and websites, in addition to collaborating on ideas.
"The combination of Adobe and Figma will deliver significant value to consumers, advance new product categories and technologies and create new market opportunities, and we've been delighted to hear from customers across the design space who tell us they are excited about the benefits the transaction will unlock," an Adobe spokesperson told CNBC.
Following the news that the DOJ may file a lawsuit to block Adobe’s acquisition of Figma, Adobe shares fell as much as 5 percent in extended trading. Despite looking at a potential lawsuit from the DOJ, an Adobe spokesperson assured that the company still expects to close the Figma deal in 2023.
Now that you’re caught up on the DOJ potentially taking an interest in Adobe’s acquisition of Figma, be sure to read through some of our previous coverage including our initial reporting on Adobe planning to acquire design software firm Figma for $20 billion, and Google Maps possibly being added by the DOJ to its ongoing antitrust investigation into the company.
Morgan Shaver posted a new article, Adobe acquisition of Figma may be blocked by the DOJ