The US Department Of Justice reportedly getting ready to file suit to block the $20 billion Adobe-Figma deal announced last year on the grounds it is anti-competitive.
In a statement, Adobe took exception to the idea that the deal to acquire Figma is anti-competitive.
“Figma is a leader in interactive product design, focused on building a collaborative web platform. Adobe is a leader in the creative tools space, helping millions of users create amazing visual content. Together, our vision will help enable millions of consumers to transform their productivity with creativity,” the company said.
The company indicated it is continuing to work with various regulatory bodies to bring the deal to fruition.
“We are engaged in constructive and cooperative discussions with regulators in the US, UK, and EU among others. We continue to expect to close the transaction in 2023, in line with previously stated guidance.”
Figma had raised over $300+ million and the company was valued at $10 billion.
Source: Techcrunch
