EU antitrust regulators set Aug. 7 deadline for Adobe, Figma deal – One America News Network

By Foo Yun Chee

BRUSSELS (Reuters) – EU antitrust regulators will decide by Aug. 7 whether to clear Adobe’s $20 billion bid for cloud-based designer platform Figma after a preliminary review, according to a European Commission filing on Monday.

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Photoshop maker Adobe sought EU approval last Friday. A request made a month before the summer holidays suggests the company expects the EU competition enforcer to open a full-scale investigation following its initial scrutiny.

The Commission earlier this year warned the deal threatens to significantly affect competition in the market for interactive product design and whiteboarding software.

Figma’s web-based collaborative platform for designs and brainstorming is hugely popular among tech firms including Zoom Video Communications, Airbnb and Coinbase.

Britain’s competition watchdog on Friday gave Adobe a week to offer remedies to address its concerns or face a deeper investigation.

(Reporting by Foo Yun Chee; Editing by Marguerita Choy)