Thu. Sep 19th, 2024
Brussels, 18 December 2023

Statement by Executive Vice-President Vestager on announcement by Adobe to abandon the acquisition of Figma

The Commission takes note of Adobe’s and Figma’s decision to terminate their agreement according to which Adobe intended to acquire sole control over Figma. This marks the end of the Commission’s investigation into this transaction.

The abandonment follows the findings of the Commission’s in-depth investigation and the sending of a Statement of Objections on 17 November 2023.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said:

“Adobe and Figma are both leading global software companies. Adobe and Figma compete today in the market for interactive product design software. Interactive product design software is used to design websites, mobile applications, and other digital products.”

Furthermore, in the future, Figma might develop into a competitor to Adobe in vector and raster editing. Vector editing tools and raster editing tools are products used by millions of users every day to create and edit photos and graphic illustrations.

Both companies have proven to be successful and innovative. Figma is the clear market leader in interactive product design software and Adobe in vector and raster editing tools with its Illustrator and Photoshop software. By combining these two companies, the proposed acquisition would have terminated all current and prevented all future competition between them. Our in-depth investigation showed that this would lead to higher prices, reduced quality or less choice for customers.

It is important in digital markets, as well as in more traditional industries, to not only look at current overlaps but to also protect future competition. This applies in particular to transactions by which large, established companies acquire successful disruptive innovators. We take note of Adobe’s  and Figma’s decision to abandon their deal.”

Background

More information will be available on the Commission’s competition website, in the Commission’s public case register under case number M.11033.

Source – EU Commission

 

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