By Reuters | Updated: 20 June 2023
European antitrust regulators are preparing to launch a formal investigation into software giant Adobe’s $20 billion (roughly Rs. 1,64,200 crore) buyout deal for cloud-based designer platform Figma later this year, the Financial Times reported on Tuesday.
EU authorities plan to push forward with a detailed investigation, over anti-competition concerns, which could take many months and may ultimately derail the deal altogether, FT said, citing people with knowledge of the move.
These moves underline global regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition.
European antitrust regulators are preparing to launch a formal investigation into software giant Adobe’s $20 billion (roughly Rs. 1,64,200 crore) buyout deal for cloud-based designer platform Figma later this year, the Financial Times reported on Tuesday.
EU authorities plan to push forward with a detailed investigation, over anti-competition concerns, which could take many months and may ultimately derail the deal altogether, FT said, citing people with knowledge of the move.
These moves underline global regulators’ worries that large tech firms acquiring smaller innovative rivals could throttle competition.
© Thomson Reuters 2023
