{"id":55040,"date":"2024-12-21T13:00:59","date_gmt":"2024-12-21T13:00:59","guid":{"rendered":"https:\/\/prosfunds.com\/?p=55040"},"modified":"2024-12-21T13:01:04","modified_gmt":"2024-12-21T13:01:04","slug":"figma-reviewing-eus-objections-against-20-billion-adobe-buyout-bid-by-reuters","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=55040","title":{"rendered":"Figma reviewing EU&#8217;s objections against $20 billion Adobe buyout bid By Reuters"},"content":{"rendered":"<div id=\"article\">\n<div class=\"article_WYSIWYG__O0uhw article_articlePage__UMz3q text-[18px] leading-8\">\n<p>(Reuters) -Figma said on Friday it was carefully reviewing the EU competition watchdog&#8217;s statement of objections related to Photoshop maker Adobe (NASDAQ:)&#8217;s proposed $20 billion bid to buy out the cloud-based designer platform.<\/p>\n<p>The EU agency had in August opened a full-scale investigation into Adobe&#8217;s proposal to buy Figma, saying that it could reduce competition in global markets for interactive product design tools and shut out rivals.<\/p>\n<p>Adobe&#8217;s proposition comes amid heightened regulatory scrutiny around the world on Big Tech acquisitions which boost dominant companies&#8217; market power or those involving start-ups seen as nascent rivals.<\/p>\n<p>The European Commission said in a statement on Friday that it has informed Adobe of its preliminary view and has conducted a wide-ranging investigation to understand the potential impact of the deal.<\/p>\n<p>The transaction could create a dominant player of interactive product design tools by combining Figma, a clear market leader, and one of its largest competitors Adobe, the commission said.<\/p>\n<p>San Francisco-based Figma&#8217;s web-based collaborative platform for designs and brainstorming is used by tech companies such as <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Zoom Video Communications <\/span><\/span> (NASDAQ:), Airbnb and Coinbase (NASDAQ:)<\/p>\n<p>Figma said it would continue to engage in constructive conversations focused on the benefits of its deal with Adobe. <\/p>\n<\/p>\n<p>Adobe&#8217;s chief counsel Dana Rao told Reuters on Wednesday that the company is open to proposing remedies to resolve regulatory concerns.<\/p>\n<p>Britain&#8217;s competition regulator is also conducting an in-depth probe into the deal.<\/p>\n<\/p><\/div>\n<\/div>\n<p><script id=\"fb_pixel\" data-nscript=\"beforeInteractive\">!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js');<\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/adobe-reviewing-eus-statement-of-objections-for-figma-deal-3238147\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Figma said on Friday it was carefully reviewing the EU competition watchdog&#8217;s statement of objections related to Photoshop maker Adobe (NASDAQ:)&#8217;s proposed $20 billion bid to buy out the cloud-based designer platform. The EU agency had in August opened a full-scale investigation into Adobe&#8217;s proposal to buy Figma, saying that it could reduce competition [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[37],"tags":[],"class_list":{"0":"post-55040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Figma reviewing EU&#039;s objections against $20 billion Adobe buyout bid By Reuters | Prosfunds<\/title>\n<meta name=\"description\" content=\"(Reuters) -Figma said on Friday it was carefully reviewing the EU competition watchdog&#039;s statement of objections related to Photoshop maker Adobe\" \/>\n<meta name=\"robots\" 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