Brussels, 15 February 2023
The European Commission has accepted requests submitted by Austria, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, and Sweden to assess under the EU Merger Regulation the proposed acquisition of Figma by Adobe, both of the US.
Figma offers a web-based collaborative tool for product design, Figma Design, as well as a whiteboarding tool, FigJam. Adobe is a global software company offering, among others, an interactive product design tool, Adobe XD.
The proposed transaction does not reach the turnover thresholds set by the EU Merger Regulation (‘EUMR’) and therefore was not notified to the Commission. The transaction was notified for regulatory clearance in Austria and Germany, where it met national notification thresholds. Austria submitted a referral request to the Commission pursuant to Article 22(1) EUMR. This provision allows Member States to request the Commission to examine a concentration that does not have an EU dimension but affects trade within the single market and threatens to significantly affect competition within the territory of the Member States making the request. Other countries of the European Economic Area (‘EEA’) had the opportunity to join the original referral request. Subsequently, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, and Sweden joined Austria’s referral request.
On the basis of the information provided by the referring countries, and without prejudice to the outcome of its full investigation, the Commission considers that the transaction meets the criteria for referral under Article 22 EUMR. In particular, the transaction threatens to significantly affect competition in the market for interactive product design and whiteboarding software, which is likely at least EEA-wide, and, therefore, in the referring countries. The Commission also concluded that it is best placed to examine the potential cross-border effects of the transaction.
The Commission will now ask Adobe to notify the transaction. Adobe cannot implement the transaction before notifying and obtaining clearance from the Commission.
Source – EU Commission