Salem Radio Network News Tuesday, March 5, 2024


Adobe to defend Figma deal at Dec. 8 EU hearing, sources say

By Foo Yun Chee

BRUSSELS (Reuters) – Adobe will aim to counter EU antitrust charges that its proposed $20 billion acquisition of cloud-based designer platform Figma hurts competition at a closed hearing on Dec. 8, two people familiar with the matter said on Wednesday.

The European Commission two weeks ago warned that the deal may reduce competition in the global market for the supply of interactive product design software where market leader Figma competes with Adobe.

It said the acquisition would eliminate Figma as a competitor in the supply of vector editing tools and supply of raster editing tools and reinforce Photoshop maker Adobe’s dominance.

Hearings allow companies to present their arguments to senior Commission officials and lawyers and national antitrust watchdogs. Rivals and interested third parties can also attend.

The EU antitrust enforcer, which is due to decide on the deal by Feb. 5, declined to comment.

Adobe is open to proposing remedies to resolve regulatory concerns, its chief counsel Dana Rao has told Reuters.

The deal has also triggered concerns in Britain, with its competition agency on Tuesday saying the deal could harm innovation for software used by the vast majority of UK digital designers.

(Reporting by Foo Yun Chee; Editing by Mark Potter)


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