In an unsurprising turn of events, Adobe and Figma have decided to call off their highly anticipated merger – a deal initially valued at $20 billion. This decision comes in the wake of increasing scrutiny from regulators in the UK and EU, highlighting the growing influence of regulatory bodies on tech mergers and acquisitions.Adobe, the old school champion of creative and design software, was counting on the acquisition of Figma to bolster its portfolio and maintain its dominance in a rapidly evolving, highly competitive marketplace. While this seems like a pretty big setback, Adobe chair and CEO Shantanu Narayen seems undeterred in his commitment to Adobe’s mission, saying in a statement, “While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”Figma will emerge from this ordeal with a significant financial consolation – a $1 billion reverse termination fee – which, as they say, is better than a stick in the eye.More By This Author:Will Google Really Do It This Time?Is ChatGPT Getting Lazy?EU Sets Global Precedent With Comprehensive AI Regulation
Brushing Off The Merger: Adobe And Figma Part Ways In A Not-So-Picture-Perfect Split
