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The $20 billion deal fell through, and Adobe announced the termination of its acquisition of Figma

2024-05-21 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com, December 18, 2022-on September 15, 2022, Adobe announced that it had signed a final acquisition agreement with startup Figma to acquire Figma for about $20 billion (currently about 142.6 billion yuan) in cash and stock.

Adobe and Figma announced that they had agreed to terminate the merger agreement, but Adobe was also required to pay Figma a cash "break-up fee" of $1 billion (CTOnews.com Note: currently about 7.13 billion yuan).

Affected by the news, Adobe u.s. stocks rose $9.87, or about 1.69%, before trading, and now have a market capitalization of about $266.205 billion.

In November, EU regulators announced formal antitrust charges against Adobe, opposing its $20 billion acquisition of Figma.

The European Commission believes that if the deal is successful, it could "significantly reduce" global market competition for interactive product design tools, vector editing tools and raster editing tools.

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